Iron Mountain Inc. (IRM) Shares Gap Up to $36.49
Shares of Iron Mountain Inc. (NYSE:IRM) gapped up prior to trading on Tuesday . The stock had previously closed at $36.39, but opened at $36.49. Iron Mountain shares last traded at $36.75, with a volume of 557,556 shares traded.
A number of analysts have recently weighed in on IRM shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $44.00 price target on shares of Iron Mountain in a research note on Tuesday, September 13th. Zacks Investment Research raised shares of Iron Mountain from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Tuesday, June 21st. JPMorgan Chase & Co. upped their price target on shares of 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 shares of 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 target 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 assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $41.00.
The stock’s 50 day moving average price is $37.64 and its 200-day moving average price is $36.79. The stock has a market cap of $9.63 billion, a price-to-earnings ratio of 103.68 and a beta of 0.67.
Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, August 4th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by $0.05. The firm had revenue of $883.70 million for the quarter, compared to analyst estimates of $884.46 million. Iron Mountain had a return on equity of 26.91% and a net margin of 2.51%. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.28 EPS. Equities research analysts forecast that Iron Mountain Inc. will post $2.16 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Monday, September 12th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date is Thursday, September 8th. Iron Mountain’s dividend payout ratio (DPR) is currently 510.54%.
In other Iron Mountain news, VP Edward Bicks sold 1,459 shares of the firm’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $40.25, for a total value of $58,724.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Walter C. Rakowich sold 1,466 shares of the firm’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $36.32, for a total transaction of $53,245.12. Following the completion of the sale, the director now owns 7,130 shares of the company’s stock, valued at approximately $258,961.60. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Iron Mountain by 20.6% in the second quarter. Vanguard Group Inc. now owns 38,112,697 shares of the company’s stock valued at $1,518,029,000 after buying an additional 6,510,415 shares during the last quarter. State Street Corp boosted its stake in Iron Mountain by 21.5% in the second quarter. State Street Corp now owns 10,111,107 shares of the company’s stock valued at $402,723,000 after buying an additional 1,786,266 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Iron Mountain by 25.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 8,150,501 shares of the company’s stock valued at $324,634,000 after buying an additional 1,666,166 shares during the last quarter. BlackRock Fund Advisors boosted its stake in Iron Mountain by 27.4% in the second quarter. BlackRock Fund Advisors now owns 5,139,632 shares of the company’s stock valued at $204,712,000 after buying an additional 1,105,869 shares during the last quarter. Finally, Makaira Partners LLC bought a new stake in Iron Mountain during the first quarter valued at $104,016,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.
About Iron Mountain
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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