Market Analysts see Iron Mountain Incorporated [IRM] gaining to $29. Time to buy?

Iron Mountain Incorporated [NYSE: IRM] traded at a high on 08/06/20, posting a 0.38 gain after which it closed the day’ session at $29.09. The company report on August 6, 2020 that Iron Mountain Reports Second Quarter 2020 Results.

Iron Mountain Incorporated (NYSE: IRM), the storage and information management services company, announces financial and operating results for the second quarter of 2020. The conference call / webcast details, earnings call presentation and supplemental financial information, which includes definitions of certain capitalized terms used in this release, are available on Iron Mountain’s Investor Relations website. Reconciliations of non-GAAP measures to the appropriate GAAP measures are included herein.

“I am proud of the way our organization quickly adapted to the challenges presented by the COVID-19 pandemic and is navigating the environment ever since,” said William L. Meaney , president and CEO of Iron Mountain. “A crisis such as COVID tests us on many levels and we are pleased that from the beginning of this crisis, we have taken decisive, yet thoughtful, action to help keep our Mountaineers, their families, and our customers safe all whilst meeting our customers’ business needs around the world. At the same time, we took purposeful steps to further strengthen our financial position and liquidity, enhancing our flexibility to continue to invest in our business for the long term, and reward our shareholders with a sustainable dividend. On a less positive front, we found through reflection after the murder of George Floyd , that whilst we have made progress living up to our stated value around building diverse and inclusive teams, we have fallen well short of our intended – and necessary – objectives. For Iron Mountain, Diversity and Inclusion is about social justice as well as a business imperative. It is only by achieving a truly diverse and inclusive workplace, that we will be assured to have both the best talent as well as the level of creativity to continue to serve our customers in the best possible ways. We have recommitted ourselves to this value and are making the necessary changes to make better and faster progress in this area.”.

The results of the trading session contributed to over 5503899 shares changing hands. Over the past one week, the price volatility of Iron Mountain Incorporated stands at 2.34% while the volatility over the past one month is 2.05%.

The market cap for IRM stock reached $8.39 billion, with 287.84 million shares outstanding and 283.67 million shares in the current float. Compared to the average trading volume of 3.48M shares, IRM reached a trading volume of 5503899 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Iron Mountain Incorporated [IRM]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IRM shares is $27.86 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IRM stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Robert W. Baird have made an estimate for Iron Mountain Incorporated shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 02, 2019. While these analysts kept the previous recommendation, BofA/Merrill dropped their target price from $33 to $25. The new note on the price target was released on July 11, 2019, representing the official price target for Iron Mountain Incorporated stock. On April 26, 2019, analysts decreased their price target for IRM shares from 34 to 27.

The Average True Range (ATR) for Iron Mountain Incorporated is set at 0.61, with the Price to Sales ratio for IRM stock in the period of the last 12 months amounting to 1.96. The Price to Book ratio for the last quarter was 7.46, with the Price to Cash per share for the same quarter was set at 0.53.

How has IRM stock performed recently?

Iron Mountain Incorporated [IRM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.97. With this latest performance, IRM shares gained by 11.20% in over the last four-week period, additionally sinking by -8.89% over the last 6 months – not to mention a drop of -5.71% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IRM stock in for the last two-week period is set at 63.16, with the RSI for the last a single of trading hit 77.00, and the three-weeks RSI is set at 63.82 for Iron Mountain Incorporated [IRM]. The present Moving Average for the last 50 days of trading for this stock 27.29, while it was recorded at 28.63 for the last single week of trading, and 28.95 for the last 200 days.

Iron Mountain Incorporated [IRM]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Iron Mountain Incorporated [IRM] shares currently have an operating margin of +8.28 and a Gross Margin at +41.55. Iron Mountain Incorporated’s Net Margin is presently recorded at +6.27.

Return on Total Capital for IRM is now 3.17, given the latest momentum, and Return on Invested Capital for the company is 2.50. Return on Equity for this stock inclined to 15.97, with Return on Assets sitting at 2.08. When it comes to the capital structure of this company, Iron Mountain Incorporated [IRM] has a Total Debt to Total Equity ratio set at 725.19. Additionally, IRM Total Debt to Total Capital is recorded at 87.88, with Total Debt to Total Assets ending up at 76.84. Long-Term Debt to Equity for the company is recorded at 683.37, with the Long-Term Debt to Total Capital now at 82.81.

Reflecting on the efficiency of the workforce at the company, Iron Mountain Incorporated [IRM] managed to generate an average of $9,992 per employee. Receivables Turnover for the company is 5.02 with a Total Asset Turnover recorded at a value of 0.33.Iron Mountain Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.80.

Earnings analysis for Iron Mountain Incorporated [IRM]

With the latest financial reports released by the company, Iron Mountain Incorporated posted 0.32/share EPS, while the average EPS was predicted by analysts to be reported at 0.3/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 6.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IRM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Iron Mountain Incorporated go to 8.00%.

Insider trade positions for Iron Mountain Incorporated [IRM]

There are presently around $7,287 million, or 87.40% of IRM stock, in the hands of institutional investors. The top three institutional holders of IRM stocks are: VANGUARD GROUP INC with ownership of 48,714,465, which is approximately 2.351% of the company’s market cap and around 1.00% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 35,199,307 shares of the stock with an approximate value of $1.02 billion in IRM stocks shares; and BLACKROCK INC., currently with $638.22 million in IRM stock with ownership of nearly 2.91% of the company’s market capitalization.

Positions in Iron Mountain Incorporated stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 287 institutional holders increased their position in Iron Mountain Incorporated [NYSE:IRM] by around 22,944,889 shares. Additionally, 263 investors decreased positions by around 17,699,319 shares, while 74 investors held positions by with 209,846,905 shares. The mentioned changes placed institutional holdings at 250,491,113 shares, according to the latest SEC report filing. IRM stock had 70 new institutional investments in for a total of 3,248,048 shares, while 82 institutional investors sold positions of 5,124,324 shares during the same period.

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