Is Iron Mountain Incorporated (IRM) a Buy? The Stock Formed Wedge Up Chart Pattern

December 7, 2017 - By Hazel Jackson

Investors sentiment increased to 1.41 in Q2 2017. Its up 0.13, from 1.28 in 2017Q1. It increased, 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.
Virtus Invest Advisers Incorporated reported 17,308 shares or 0.06% of all its holdings. Oppenheimer Asset Management owns 14,128 shares or 0.01% of their US portfolio. Moreover, Nationwide Fund Advisors has 0.01% invested in Iron Mountain Incorporated (NYSE:IRM). The Netherlands-based Ing Groep Nv has invested 0.01% in Iron Mountain Incorporated (NYSE:IRM). Dekabank Deutsche Girozentrale holds 0.01% in Iron Mountain Incorporated (NYSE:IRM) or 25,043 shares. Stratos Wealth Prtnrs has 0.02% invested in Iron Mountain Incorporated (NYSE:IRM). Portland Global Advisors Ltd Limited Liability Company owns 22,898 shares for 0.32% of their portfolio. Vnbtrust Association reported 8,944 shares. American Research & Mngmt Company holds 308 shares. Manufacturers Life The accumulated 258,681 shares. Cibc Asset stated it has 24,826 shares or 0.01% of all its holdings. Credit Suisse Ag holds 351,301 shares. Metropolitan Life Insurance New York holds 0.03% in Iron Mountain Incorporated (NYSE:IRM) or 142,239 shares. Winch Advisory Services Ltd owns 0.01% invested in Iron Mountain Incorporated (NYSE:IRM) for 294 shares. Kbc Nv accumulated 0.02% or 45,336 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. Stifel Nicolaus maintained Iron Mountain Incorporated (NYSE:IRM) rating on Friday, July 28. Stifel Nicolaus has “Buy” rating and $4000 target. Stifel Nicolaus upgraded the shares of IRM in report on Monday, April 18 to “Buy” rating. The rating was downgraded by Deutsche Bank on Wednesday, June 7 to “Sell”. Stifel Nicolaus maintained it with “Buy” rating and $40.0 target in Friday, September 1 report. Robert W. Baird maintained Iron Mountain Incorporated (NYSE:IRM) on Thursday, August 24 with “Hold” rating. The firm earned “Neutral” rating on Wednesday, October 25 by Robert W. Baird. Stifel Nicolaus maintained it with “Buy” rating and $43.0 target in Friday, October 20 report. The company was maintained on Thursday, October 5 by Robert W. Baird.

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