Iron Mountain Incorporated (IRM) Stock Formed Bearish Wedge Down Chart Pattern. What To Expect?

March 20, 2018 - By Vivian Park

Investors sentiment increased to 1.86 in Q3 2017. Its up 0.45, from 1.41 in 2017Q2. It increased, as 24 investors sold Iron Mountain Incorporated shares while 87 reduced holdings. 60 funds opened positions while 146 raised stakes. 230.28 million shares or 2.68% more from 224.27 million shares in 2017Q2 were reported.
86,711 are owned by Amg Funds Ltd Limited Liability Company. Avalon Advsrs Llc stated it has 375,085 shares or 0.46% of all its holdings. Griffin Asset Management Inc has invested 0.07% in Iron Mountain Incorporated (NYSE:IRM). Cubist Systematic Strategies Limited Liability Company invested 0.05% of its portfolio in Iron Mountain Incorporated (NYSE:IRM). National Bank & Trust Of America Corporation De invested in 4.01 million shares. Ww Asset Mngmt Inc invested in 30,123 shares or 0.04% of the stock. Raymond James Trust Na, a Florida-based fund reported 29,763 shares. Estabrook Capital Management holds 0% in Iron Mountain Incorporated (NYSE:IRM) or 75 shares. Sun Life owns 0.07% invested in Iron Mountain Incorporated (NYSE:IRM) for 19,309 shares. Capital Advsr Incorporated Ok, Oklahoma-based fund reported 272,380 shares. Amica Retiree Med Trust stated it has 0.04% in Iron Mountain Incorporated (NYSE:IRM). Alliancebernstein Lp owns 547,218 shares. International Ltd Ca, a California-based fund reported 8,614 shares. Nomura Hldgs Inc accumulated 13,455 shares or 0% of the stock. 2,475 were accumulated by Parallax Volatility Advisers Lp.

Since September 22, 2017, it had 1 insider buy, and 8 sales for $2.16 million activity. 1,076 shares were sold by MacLean Theodore, worth $34,752 on Friday, February 16. $774,371 worth of Iron Mountain Incorporated (NYSE:IRM) shares were sold by Meaney William L. The insider Bicks Edward sold 513 shares worth $20,777. Another trade for 23,428 shares valued at $914,688 was made by Keddy Patrick J on Wednesday, October 11. RAKOWICH WALTER C also sold $62,726 worth of Iron Mountain Incorporated (NYSE:IRM) on Wednesday, January 17.

The stock of Iron Mountain Incorporated (IRM) formed a down wedge with $30.02 target or 5.00 % below today’s $31.60 share price. The 8 months wedge indicates high risk for the $9.02B company. If the $30.02 price target is reached, the company will be worth $450.80 million less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 0.45% or $0.14 during the last trading session, reaching $31.6. About 200,083 shares traded. Iron Mountain Incorporated (NYSE:IRM) has declined 3.72% since March 20, 2017 and is downtrending. It has underperformed by 20.42% the S&P500.

Analysts await Iron Mountain Incorporated (NYSE:IRM) to report earnings on April, 26. They expect $0.50 earnings per share, up 4.17 % or $0.02 from last year’s $0.48 per share. IRM’s profit will be $142.66 million for 15.80 P/E if the $0.50 EPS becomes a reality. After $0.53 actual earnings per share reported by Iron Mountain Incorporated for the previous quarter, Wall Street now forecasts -5.66 % negative 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 12 analyst reports since October 9, 2015 according to SRatingsIntel. The rating was maintained by Stifel Nicolaus on Tuesday, February 20 with “Buy”. The company was maintained on Wednesday, October 25 by Robert W. Baird. Stifel Nicolaus maintained the shares of IRM in report on Friday, October 20 with “Buy” rating. The firm has “Buy” rating given on Friday, September 1 by Stifel Nicolaus. The company was downgraded on Wednesday, June 7 by Deutsche Bank. Stifel Nicolaus maintained it with “Buy” rating and $4000 target in Friday, July 28 report. As per Thursday, August 24, the company rating was maintained by Robert W. Baird. Stifel Nicolaus upgraded the stock to “Buy” rating in Monday, April 18 report. On Thursday, October 5 the stock rating was maintained by Robert W. Baird with “Hold”. On Friday, February 16 the stock rating was maintained by Stifel Nicolaus with “Buy”.

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