Investors Buy Shares of Iron Mountain Inc. (IRM) on Weakness
Traders purchased shares of Iron Mountain Inc. (NYSE:IRM) on weakness during trading hours on Friday. $36.02 million flowed into the stock on the tick-up and $14.38 million flowed out of the stock on the tick-down, for a money net flow of $21.64 million into the stock. Of all companies tracked, Iron Mountain had the 3rd highest net in-flow for the day. Iron Mountain traded down ($0.14) for the day and closed at $38.25
IRM has been the subject of a number of analyst reports. Zacks Investment Research upgraded Iron Mountain from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Monday, August 8th. JPMorgan Chase & Co. upped their price objective on Iron Mountain from $42.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th. TheStreet lowered Iron Mountain from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Finally, Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Iron Mountain in a research note on Friday, June 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $40.00.
The stock has a market capitalization of $10.07 billion and a P/E ratio of 108.36. The company’s 50-day moving average price is $39.09 and its 200 day moving average price is $35.69.
Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.47 EPS for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.05. During the same period in the prior year, the company posted $0.28 earnings per share. The business earned $883.70 million during the quarter, compared to the consensus estimate of $884.46 million. The business’s revenue for the quarter was up 16.3% compared to the same quarter last year. On average, equities research analysts anticipate that Iron Mountain Inc. will post $2.29 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 12th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $1.94 dividend on an annualized basis and a yield of 5.07%.
In other Iron Mountain news, VP Edward Bicks sold 1,459 shares of Iron Mountain stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $40.25, for a total transaction of $58,724.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Anastasios Tsolakis sold 35,248 shares of Iron Mountain stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $38.01, for a total value of $1,339,776.48. Following the transaction, the executive vice president now owns 59,009 shares of the company’s stock, valued at approximately $2,242,932.09. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Iron Mountain stock. Utah Retirement Systems increased its position in shares of Iron Mountain Inc. (NYSE:IRM) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,762 shares of the company’s stock after buying an additional 3,700 shares during the period. Utah Retirement Systems’ holdings in Iron Mountain were worth $1,803,000 as of its most recent filing with the SEC.
Iron Mountain Incorporated (Iron Mountain) is engaged in storing records, primarily paper documents and data backup media, and provide information management services. The Company offers records management services, data protection and recovery services and information destruction services. Its information management services are divided into three categories: records management services, data protection and recovery services, and information destruction services.