Could Iron Mountain Incorporated (IRM) Go Up? The Stock Formed Wedge Up Pattern

December 7, 2017 - By Kurt Siggers

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.
Pictet Asset Mngmt accumulated 772,929 shares. Sumitomo Mitsui Asset Mgmt Ltd has invested 0.02% in Iron Mountain Incorporated (NYSE:IRM). Vnbtrust Natl Association holds 8,944 shares or 0.12% of its portfolio. 126,568 are held by Gilman Hill Asset Limited Liability. 78,715 are owned by Fifth Third Fincl Bank. Stifel has 0.04% invested in Iron Mountain Incorporated (NYSE:IRM). Avenir reported 0.05% stake. Shell Asset, a Netherlands-based fund reported 15,672 shares. D E Shaw Inc owns 522,559 shares. Bnp Paribas Asset Management Holdg has 8,591 shares. Bank & Trust Of Nova Scotia owns 49,470 shares for 0.01% of their portfolio. Kentucky Retirement Insur Trust Fund stated it has 0.04% of its portfolio in Iron Mountain Incorporated (NYSE:IRM). Dekabank Deutsche Girozentrale holds 25,043 shares or 0.01% of its portfolio. Lpl Financial Ltd Liability accumulated 0.01% or 62,817 shares. California Employees Retirement Systems has 0.04% invested in Iron Mountain Incorporated (NYSE:IRM).

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 EPS, up 14.00 % or $0.07 from last year’s $0.5 per share. IRM’s profit will be $152.16 million for 17.54 P/E if the $0.57 EPS becomes a reality. After $0.55 actual EPS 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) on Friday, September 1 with “Buy” rating. Stifel Nicolaus upgraded the stock to “Buy” rating in Monday, April 18 report. Robert W. Baird maintained the shares of IRM in report on Thursday, August 24 with “Hold” rating. The firm earned “Sell” rating on Wednesday, June 7 by Deutsche Bank. The stock has “Buy” rating by Stifel Nicolaus on Friday, July 28. The company was maintained on Wednesday, October 25 by Robert W. Baird. Robert W. Baird maintained the stock with “Hold” rating in Thursday, October 5 report. Stifel Nicolaus maintained the shares of IRM in report on Friday, October 20 with “Buy” rating.

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