The stock of Iron Mountain Incorporated (NYSE:IRM) increased by $0.63 on Friday to finish at $61.17, up 1.04 percent. The last five days have seen an average of 1,031,900 shares of common stock traded. 24 times new highs were reached in the current year, with a gain of $11.32. The average number of shares traded over the last 20 days was 1,301,225, while the average volume over the last 50 days totaled 1,386,156.
IRM stock appreciated 0.15% since last month. On 08/18/23, the company’s shares reached a one-month low of $58.03. The stock touched a high of $62.88 on 07/27/23, after rallying from a low of $43.28 in 52 weeks. The price of IRM stock has risen by 22.71% or $11.32 this year, reaching a new high 24 times. Still, the stock price is down -2.71% from the 52-week high.
Insider Transactions
IRM stock investors should be aware that Iron Mountain Incorporated (IRM) stock had its last reported insider trading activity 13 days ago on Aug 15. On Aug 15, President and CEO Meaney William L sold 10,507 shares at $59.97 each. This transaction resulted in the insider making $630,105. On Aug 14, Meaney William L sold 10,507 shares at a price of US$60.22. After the transaction, the insider now owns 295,650 shares. Director Murdock Wendy J. had earlier sold 12,000 shares on Aug 07 for $61.53 a share. The transaction was completed for $738,408.
Valuation Metrics
Iron Mountain Incorporated (IRM) has a trailing price-to-earnings (P/E) ratio of 47.20. Beta for the stock is 0.94. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 3.37, the price-to-book (PB) ratio of 42.78.
Company paid $0.65 per share in dividends, an increase of 5.09% from $0.6185 last year.
Financial Health
For the three months ended June 29, Iron Mountain Incorporated’s quick ratio was 0.80, while its current ratio was 0.80, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 26.78, and the total debt to equity ratio is 27.02. As far as profitability goes, gross margin for the trailing twelve months is 68.60% percent. Iron Mountain Incorporated’s operating margin stood at 18.80% for the same period. Based on annual data, it had gross profit of $2.91 billion and revenue of $5.1 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. IRM’s return on assets (ROA) during the last 12 months has been 2.30%. There was a 8.70% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 71.30%.
Earnings Surprise
According to Iron Mountain Incorporated’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.36 billion, while revenues rose by 5.04% to $1.31 billion. It was predicted that Iron Mountain Incorporated’s quarterly earnings would be $0.4, but it ended up being $0.4. EBITDA was $411.66 million for the quarter. At the end of Iron Mountain Incorporated’s most recent quarter ended June 29, its liabilities totaled 16.26 billion, while its total debt was $14.06 billion. Equity owned by shareholders amounts to $291.85 million.
Technical Picture
Here’s a quick look at Iron Mountain Incorporated’s (IRM) price momentum from a technical perspective. As of 25 August, the RSI 9-day stood at 59.04%, suggesting the stock is Neutral, with a 20.51% historical volatility rate.
The stochastic %K and %D were 75.70% and 60.03% respectively, while the average true range (ATR) was 1.20. Based on the 14-day stochastic reading of 83.96%, the RSI (14) reading is 56.76%. On the 9-day MACD Oscillator, the stock is at 1.20, and the 14-day reading is at 0.86.
Analyst Ratings
In its most recent analyst report, RBC Capital Mkts raised its rating on Iron Mountain Incorporated (NYSE: IRM) to an Outperform. Prior to this, analysts firm rated the stock as a Sector perform. Analysts have assigned Iron Mountain Incorporated (IRM) an Overweight rating. IRM is a stock that is recommended for selling by 1 brokerage firm, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 6 others recommend it as a buy.
What is IRM’s price target for the next 12 months?
The current consensus forecast for the stock is between $20.00 and $75.00, with a median target price of $68.00. In analyzing these forecasts, the average price target given by analysts for Iron Mountain Incorporated (IRM) is $62.75.
