Iron Mountain (NYSE:IRM) Shares Gap Down to $34.14

Iron Mountain Inc (NYSE:IRM) gapped down prior to trading on Friday . The stock had previously closed at $34.84, but opened at $34.14. Iron Mountain shares last traded at $32.55, with a volume of 3,607,908 shares.

IRM has been the topic of several recent research reports. ValuEngine raised Iron Mountain from a “sell” rating to a “hold” rating in a report on Thursday, September 5th. Bank of America downgraded Iron Mountain from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $33.00 to $25.00 in a report on Thursday, July 11th. Robert W. Baird raised Iron Mountain from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $27.00 to $29.00 in a report on Friday, August 2nd. Credit Suisse Group reissued a “sell” rating and issued a $21.00 price target on shares of Iron Mountain in a report on Thursday. Finally, Wells Fargo & Co initiated coverage on Iron Mountain in a report on Wednesday, July 10th. They issued an “outperform” rating and a $31.60 price target on the stock. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Iron Mountain presently has a consensus rating of “Hold” and a consensus price target of $33.51.

The firm has a 50 day simple moving average of $31.46 and a two-hundred day simple moving average of $32.64. The company has a debt-to-equity ratio of 6.06, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market cap of $9.80 billion, a P/E ratio of 14.15, a P/E/G ratio of 3.90 and a beta of 0.54.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, August 1st. The financial services provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. Iron Mountain had a return on equity of 19.65% and a net margin of 8.18%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 EPS. As a group, equities research analysts predict that Iron Mountain Inc will post 2.26 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Monday, September 16th will be paid a dividend of $0.611 per share. This represents a $2.44 annualized dividend and a yield of 7.51%. The ex-dividend date is Friday, September 13th. Iron Mountain’s payout ratio is currently 106.09%.

In other Iron Mountain news, EVP Patrick J. Keddy sold 6,000 shares of Iron Mountain stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $33.00, for a total transaction of $198,000.00. Following the sale, the executive vice president now owns 24,114 shares of the company’s stock, valued at approximately $795,762. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the business. Mcmillion Capital Management Inc. bought a new stake in Iron Mountain during the 2nd quarter valued at $31,000. Prime Capital Investment Advisors LLC bought a new stake in Iron Mountain during the 2nd quarter valued at $31,000. Valeo Financial Advisors LLC raised its stake in Iron Mountain by 194.2% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,062 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 701 shares in the last quarter. Bremer Bank National Association bought a new stake in Iron Mountain during the 1st quarter valued at $36,000. Finally, Thor Advisors LLC bought a new stake in Iron Mountain during the 1st quarter valued at $38,000. 85.93% of the stock is currently owned by hedge funds and other institutional investors.

About Iron Mountain (NYSE:IRM)

Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 85 million square feet across more than 1,400 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.

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