Key Points
- Iron Mountain EVP Greg McIntosh sold 5,000 shares for $584,800 at an average price of $116.96 under a pre-arranged Rule 10b5-1 plan. He retained 65,634 shares after the sale, a 7.08% reduction in his holdings.
- Iron Mountain’s latest reported quarter beat analyst expectations: earnings were $0.60 per share versus $0.54 forecast, and revenue of $2.03 billion was up 18.5% year over year.
- Analysts maintain a “Moderate Buy” consensus, with an average price target of $143.89; eight analysts rated the stock Buy and two rated it Hold.
Iron Mountain Incorporated (NYSE:IRM - Get Free Report) EVP Greg Mcintosh sold 5,000 shares of the firm's stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $116.96, for a total value of $584,800.00. Following the transaction, the executive vice president owned 65,634 shares in the company, valued at $7,676,552.64. This trade represents a 7.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Iron Mountain Price Performance
IRM stock opened at $116.61 on Wednesday. Iron Mountain Incorporated has a 1-year low of $77.77 and a 1-year high of $134.68. The firm has a fifty day moving average price of $114.44 and a two-hundred day moving average price of $115.13. The firm has a market cap of $34.71 billion, a price-to-earnings ratio of 83.29 and a beta of 1.18.
Iron Mountain (NYSE:IRM - Get Free Report) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.06. Iron Mountain had a net margin of 5.54% and a negative return on equity of 85.44%. The company had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $1.97 billion. During the same period in the prior year, the company earned $1.24 earnings per share. The firm's revenue was up 18.5% compared to the same quarter last year. As a group, analysts expect that Iron Mountain Incorporated will post 5.42 EPS for the current fiscal year.
Institutional Investors Weigh In On Iron Mountain
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Iron Mountain in the 2nd quarter worth about $4,240,342,000. Principal Financial Group Inc. boosted its stake in Iron Mountain by 8.5% during the 1st quarter. Principal Financial Group Inc. now owns 4,566,093 shares of the financial services provider's stock valued at $466,382,000 after purchasing an additional 358,497 shares during the period. Dimensional Fund Advisors LP boosted its stake in Iron Mountain by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,552,286 shares of the financial services provider's stock valued at $464,931,000 after purchasing an additional 122,927 shares during the period. Legal & General Group Plc bought a new position in Iron Mountain in the 2nd quarter worth about $409,843,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Iron Mountain by 29,674.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,193,560 shares of the financial services provider's stock worth $403,379,000 after purchasing an additional 3,182,834 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages recently weighed in on IRM. Wall Street Zen downgraded shares of Iron Mountain from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Wells Fargo & Company raised their target price on shares of Iron Mountain from $135.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. The Goldman Sachs Group raised their target price on shares of Iron Mountain from $153.00 to $155.00 and gave the stock a "buy" rating in a report on Tuesday, October 6th. Weiss Ratings downgraded Iron Mountain from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, August 25th. Finally, Rothschild & Co Redburn assumed coverage on Iron Mountain in a report on Monday, September 21st. They set a "buy" rating and a $132.00 target price for the company. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Iron Mountain presently has a consensus rating of "Moderate Buy" and a consensus target price of $143.89.
View Our Latest Analysis on Iron Mountain
About Iron Mountain
(
Get Free Report)
Iron Mountain Incorporated (NYSE: IRM) is a global information management and storage company that helps organizations protect, manage and optimize their physical and digital assets. Founded in 1951, the company began as a records storage provider and has expanded into a broader information lifecycle management business.
Its services include records storage and retrieval, information governance, secure shredding and destruction, document scanning, digital transformation, backup and recovery, and data center services.
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