Does Iron Mountain Incorporated (IRM) Have Any Gas After Forming This Wedge Up Pattern?

December 7, 2017 - By Stephen Andrade

Investors sentiment increased to 1.41 in 2017 Q2. Its up 0.13, from 1.28 in 2017Q1. It improved, as 32 investors sold Iron Mountain Incorporated shares while 91 reduced holdings. 51 funds opened positions while 122 raised stakes. 224.27 million shares or 1.46% more from 221.04 million shares in 2017Q1 were reported.
3,049 are held by Creative Planning. Teachers Retirement System Of The State Of Kentucky holds 25,423 shares. 16,670 are held by Avenir Corp. Shell Asset Co invested in 0.01% or 15,672 shares. Kentucky Retirement Sys Insurance Trust Fund holds 6,727 shares or 0.04% of its portfolio. River Road Asset Management Limited Liability Company has invested 2.27% of its portfolio in Iron Mountain Incorporated (NYSE:IRM). Public Sector Pension Investment Board reported 26,846 shares. State Common Retirement Fund owns 564,600 shares for 0.03% of their portfolio. State Board Of Administration Of Florida Retirement System has invested 0.03% in Iron Mountain Incorporated (NYSE:IRM). 6,286 were reported by Two Sigma Ltd Liability Com. Goldman Sachs Grp Inc stated it has 0.06% in Iron Mountain Incorporated (NYSE:IRM). Duncker Streett Comm Inc holds 200 shares or 0% of its portfolio. Tru Department Mb Bancorp N A, a Illinois-based fund reported 5,000 shares. Texas-based Amer National Registered Investment Advisor Incorporated has invested 0.37% in Iron Mountain Incorporated (NYSE:IRM). Gradient Invs Ltd Llc invested in 24 shares.

The stock of Iron Mountain Incorporated (IRM) formed an up wedge with $43.59 target or 9.00 % above today’s $39.99 share price. The 9 months wedge indicates low risk for the $10.68B company. If the $43.59 price target is reached, the company will be worth $960.75 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.20% or $0.08 during the last trading session, reaching $39.99. About 725,000 shares traded. Iron Mountain Incorporated (NYSE:IRM) has declined 3.72% since December 8, 2016 and is downtrending. It has underperformed by 20.42% the S&P500.

Analysts await Iron Mountain Incorporated (NYSE:IRM) to report earnings on February, 22. They expect $0.57 earnings per share, up 14.00 % or $0.07 from last year’s $0.5 per share. IRM’s profit will be $152.16M for 17.54 P/E if the $0.57 EPS becomes a reality. After $0.55 actual earnings per share reported by Iron Mountain Incorporated for the previous quarter, Wall Street now forecasts 3.64 % EPS growth.

Iron Mountain Incorporated (NYSE:IRM) Ratings Coverage

Among 5 analysts covering Iron Mountain Incorporated (NYSE:IRM), 2 have Buy rating, 2 Sell and 1 Hold. Therefore 40% are positive. Iron Mountain Incorporated had 10 analyst reports since October 9, 2015 according to SRatingsIntel. The stock has “Buy” rating by Stifel Nicolaus on Friday, July 28. Stifel Nicolaus maintained it with “Buy” rating and $40.0 target in Friday, September 1 report. As per Friday, October 20, the company rating was maintained by Stifel Nicolaus. The stock has “Neutral” rating by Robert W. Baird on Wednesday, October 25. Deutsche Bank downgraded the shares of IRM in report on Wednesday, June 7 to “Sell” rating. Stifel Nicolaus upgraded Iron Mountain Incorporated (NYSE:IRM) on Monday, April 18 to “Buy” rating. The company was maintained on Thursday, August 24 by Robert W. Baird. Robert W. Baird maintained it with “Hold” rating and $39.0 target in Thursday, October 5 report.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our free daily email newsletter: