How Analysts Feel About Iron Mountain Incorporated (IRM) After Forming Bullish Wedge Up Chart Pattern?

December 7, 2017 - By Winifred Garcia

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.
Private Advisor Grp Limited Co accumulated 7,929 shares. Credit Suisse Ag has invested 0.01% in Iron Mountain Incorporated (NYSE:IRM). Rockefeller Finance reported 0.32% stake. Kentucky Retirement Systems Fund holds 0.04% or 6,727 shares. Pioneer Investment Mngmt has 0.01% invested in Iron Mountain Incorporated (NYSE:IRM) for 84,424 shares. Sei Invs reported 0% stake. Confluence Investment Management Lc has invested 1.62% in Iron Mountain Incorporated (NYSE:IRM). Shell Asset Mngmt reported 15,672 shares or 0.01% of all its holdings. Advisors Asset Mngmt owns 72,606 shares. Ubs Asset Management Americas reported 805,134 shares stake. 1.28 million are owned by Legal & General Gru Public Ltd. Winch Advisory Services Ltd has 294 shares. Wade G W And holds 12,109 shares. Trust has 1.37% invested in Iron Mountain Incorporated (NYSE:IRM). Goldman Sachs Group stated it has 6.96M 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. Robert W. Baird maintained the stock with “Hold” rating in Thursday, October 5 report. The stock of Iron Mountain Incorporated (NYSE:IRM) has “Buy” rating given on Friday, October 20 by Stifel Nicolaus. The rating was maintained by Stifel Nicolaus with “Buy” on Friday, July 28. The company was maintained on Thursday, August 24 by Robert W. Baird. As per Friday, September 1, the company rating was maintained by Stifel Nicolaus. On Wednesday, October 25 the stock rating was maintained by Robert W. Baird with “Neutral”. Stifel Nicolaus upgraded the stock to “Buy” rating in Monday, April 18 report. Deutsche Bank downgraded the stock to “Sell” rating in Wednesday, June 7 report.

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