Technicals Say Iron Mountain Incorporated (IRM) Is A Hold


Iron Mountain Incorporated (NYSE:IRM) finished Wednesday with a subtraction of -$0.5 to close at $50.15, a downside of -0.99 percent. An average of 3,351,700 shares of common stock have been traded in the last five days. There was a fall of -$4.13 in the past week, and it reached a new high 30 times over the past 12 months. The last 20 days have seen an average of 2,041,480 shares traded, while the 50-day average volume stands at 1,897,456.

IRM stock has decreased by -6.47% in the last month. The company shares reached their 1-month lowest point of $50.12 on 09/21/22. With the stock rallying to its 52-week high on 04/21/22, shares of the company touched a low of $41.67 and a high of $58.61 in 52 weeks. It has reached a new high 11 times so far this year and lost -4.17% or -$2.18 in price. In spite of this, the price is down -14.43% from the 52-week high.

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Insider Transactions

8 days have passed since Iron Mountain Incorporated (IRM) last reported insider trading activity. MARSON DEBORAH, who is EVP, General Counsel, Sec., most recently acquired $1,125 shares at $53.82 per share on Sep 14. In this transaction, the insider spent $60,548. EVP, General Counsel, Sec., MARSON DEBORAH, disposed of 1,125 shares at a price of $54.00 on Aug 10. The insider now owns more than $60,750 worth of shares. Prior to that, EVP, GM, Global RM McIntosh Greg W went on to Sale 5,800 shares at $52.95 each on Aug 08. An amount of $307,110 was transacted.

Valuation Metrics

Iron Mountain Incorporated (IRM) has a trailing price-to-earnings (P/E) ratio of 39.40. The stock’s beta is 0.78. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.92, the price-to-book (PB) ratio at 22.49.

The company has a payout ratio of 144.90%. The company’s most recent quarterly dividend payment was $0.6180 a share, without any change from last year. Its latest decrease dividend $0.0005 reported on Thursday April 28 2022.

Financial Health

The quick ratio of Iron Mountain Incorporated for the three months ended June 29 was 0.90, and the current ratio was 0.90, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 15.45 and a total debt to equity ratio of 15.58 for the quarter ending June 29. Its gross profit as reported stood at $2.6 billion compared to revenue of $4.49 billion.

Earnings Surprise

For the three-month period that ended June 29, Iron Mountain Incorporated had $9.99 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $200.08 million in the quarter, while revenues of $42.3 million were shrunk -37.59%. The analyst consensus anticipated Iron Mountain Incorporated’s latest quarter earnings to come in at $0.4 per share, but it turned out to be $0.46, a 15.00% surprise. For the quarter, EBITDA amounted to $476.71 million. Shareholders own equity worth $290.69 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Iron Mountain Incorporated (IRM) price momentum. RSI 9-day as of the close on 21 September was 35.65%, suggesting the stock is Neutral, with historical volatility in this time frame at 66.22%.

As of today, IRM’s price is $53.15 -7.61% or -$4.13 from its 5-day moving average. IRM is currently trading -5.79% lower than its 20-day SMA and -9.98% lower than its 100-day SMA. However, the stock’s current price level is +5.22% above the SMA50 and +6.50% above the SMA200.

The stochastic %K and %D were 31.00% and 52.52%, respectively, and the average true range (ATR) was 2.10. With the 14-day stochastic at 0.46% and the average true range at 1.85, the RSI (14) stands at 40.54%. The stock has reached -1.74 on the 9-day MACD Oscillator while the 14-day reading was at -1.19.

Analyst Ratings

Barclays launched coverage on Iron Mountain Incorporated (NYSE: IRM) in its analyst report released on June 24, 2022. The firm assigned the stock an Overweight rating. The consensus rating for Iron Mountain Incorporated (IRM) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell IRM, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 5 others rate it as a “buy”.

What is IRM’s price target for the next 12 months?

Analysts predict a range of price targets between $20.00 and $68.00, with a median target of $60.00. Taking a look at these predictions, the average price target given by analysts for Iron Mountain Incorporated (IRM) stock is $55.57.


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