Insider Selling: Iron Mountain Director Sells 24,000 Shares of Stock (IRM)
Iron Mountain (NYSE:IRM) Director Clark H. Bailey unloaded 24,000 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $33.42, for a total transaction of $802,080.00. Following the completion of the sale, the director now directly owns 141,369 shares of the company’s stock, valued at approximately $4,724,552. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on IRM shares. Analysts at Robert W. Baird downgraded shares of Iron Mountain from an “outperform” rating to a “neutral” rating in a research note on Friday, July 18th. They now have a $39.00 price target on the stock, down previously from $40.00. Separately, analysts at Barclays raised their price target on shares of Iron Mountain from $25.00 to $35.00 in a research note on Thursday, July 3rd. They now have an “underweight” rating on the stock. Finally, analysts at JPMorgan Chase & Co. initiated coverage on shares of Iron Mountain in a research note on Monday, June 30th. They set an “overweight” rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $33.33.
Shares of Iron Mountain (NYSE:IRM) traded up 2.08% on Friday, hitting $33.90. The stock had a trading volume of 1,308,787 shares. Iron Mountain has a 52-week low of $25.03 and a 52-week high of $36.00. The stock’s 50-day moving average is $33.90 and its 200-day moving average is $29.72. The company has a market cap of $6.547 billion and a price-to-earnings ratio of 17.50.
Iron Mountain (NYSE:IRM) last released its earnings data on Thursday, July 31st. The company reported $0.41 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.35 by $0.06. The company had revenue of $787.00 million for the quarter, compared to the consensus estimate of $774.24 million. During the same quarter last year, the company posted $0.29 earnings per share. Iron Mountain’s revenue was up 4.4% compared to the same quarter last year. On average, analysts predict that Iron Mountain will post $1.44 earnings per share for the current fiscal year.
Iron Mountain Incorporated (NYSE:IRM) is engaged in storing records, primarily paper documents and data backup media, and provide information management services.
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