Traders Buy Iron Mountain Inc. (IRM) on Weakness
Investors bought 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 equities 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
A number of equities analysts recently issued reports on IRM shares. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $42.00 target price on shares of Iron Mountain in a report on Monday, May 2nd. TheStreet cut Iron Mountain from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Zacks Investment Research cut Iron Mountain from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Finally, Piper Jaffray Cos. restated a “buy” rating and set a $44.00 price objective on shares of Iron Mountain in a research note on Friday, June 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Iron Mountain currently has an average rating of “Hold” and an average price target of $40.00.
The firm has a market capitalization of $10.07 billion and a PE ratio of 108.36. The stock’s 50 day moving average is $39.09 and its 200 day moving average is $35.69.
Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, August 4th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.05. During the same quarter in the previous year, the business earned $0.28 earnings per share. The firm earned $883.70 million during the quarter, compared to analysts’ expectations of $884.46 million. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. On average, equities research analysts predict that Iron Mountain Inc. will post $2.29 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Monday, September 12th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $1.94 annualized dividend and a dividend yield of 5.07%.
In other news, EVP Anastasios Tsolakis sold 35,248 shares of the business’s stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $38.01, for a total transaction of $1,339,776.48. Following the transaction, the executive vice president now directly owns 59,009 shares of the company’s stock, valued at $2,242,932.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Edward Bicks sold 1,459 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $40.25, for a total value of $58,724.75. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Iron Mountain stock. Utah Retirement Systems boosted its stake in Iron Mountain Inc. (NYSE:IRM) by 5.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm 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 at the end of the most recent reporting period.
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.
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