Iron Mountain Incorporated (NYSE:IRM) Stock: Looks Like An Option To Consider

Iron Mountain Incorporated (NYSE:IRM) price on Thursday, Jan 28, dropped -3.78% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $35.61.

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A look at the stock’s price movement, the level at last check in today’s session was $37.01, moving within a range at $34.65 and $37.61. The beta value (5-Year monthly) was 0.86 while the PE ratio in trailing twelve months stood at 80.28. Turning to its 52-week performance, $41.32 and $21 were the 52-week high and 52-week low respectively. Overall, IRM moved 25.29% over the past month.

Iron Mountain Incorporated’s market cap currently stands at around $10.71 Billion, with investors looking forward to this quarter’s earnings report slated for Feb 11, 2021- Feb 15, 2021. The company has a Forward Dividend ratio of 2.47, with its dividend yield at 6.67%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report. Analysts project the company’s earnings per share (EPS) to be $0.31, which has seen fiscal year 2021 EPS growth forecast to increase to $1.11 and about $1.38 for fiscal year 2022. Per the data, EPS growth is expected to be 0.09% for 2021 and 0.24% for the next financial year.

Analysts have a consensus estimate of $1.04 Billion for the company’s revenue for the quarter, with a low and high estimate of $1.04 Billion and $1.06 Billion respectively. The average forecast suggests up to a -3.5% decline in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2021 to shrink to $4.13 Billion, representing a -3.2% drop on that reported in the last financial year.

Turning to the stock’s technical picture we see that short term indicators suggest on average that IRM is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.

8 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 5 recommend IRM as a Buy and none give it an Outperform rating. Meanwhile, 1 analyst(s) rate the stock as Underperform and 1 say it is a Sell. As such, the average rating for the stock is Overweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.

The technical evaluation for the stock shows the PEG ratio is 47.22, with IRM’s current price about 18.88% and 23.27% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 74, while 7-day volatility ratio is 1005.% and 4.32% in the 30-day chart. Further, Iron Mountain Incorporated (IRM) has a beta value of 0.86, and an average true range (ATR) of 1.58. Analysts have given the company’s stock an average 52-week price target of $30.13, forecast between a low of $16 and high of $38. Looking at the price targets, the low is -55.07% off recent price level in today’s trading while to achieve the yearly target high, it has to move +6.71%. Nonetheless, investors will most likely welcome a -7.33% jump to $33 which is the analysts’ median price.

In the market, a comparison of Iron Mountain Incorporated (IRM) and its peers suggest the former has performed considerably weaker. Data shows IRM’s intraday price has changed -3.78% today and +15.8% over the past year. Comparatively, American Tower Corp (AMT) has moved +0.52% so far today and only -3.42% in the past 12 months. Looking at another peer, we see that Prologis Inc (PLD) price has surged 0.15% on the day. However, the stock is 8.08% off its price today a year ago. Moreover, Crown Castle International Corp (CCI) is also down -3.78% in today’s trading while keeping an uptrend of 15.8% over the past year. If we look at the PE ratio, we find that Iron Mountain Incorporated’s ratio stands at 80.28 compared to American Tower Corp’s 54.1 and Prologis Inc’s 45.38. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are up 1.73% and 1.85% respectively on the day as seen in early trades.

If we refocus on Iron Mountain Incorporated (NYSE:IRM), historical trading data shows that trading volumes averaged 7.63 Million over the past 10 days and 4.05 Million over the past 3 months. The company’s latest data on shares outstanding shows there are 288.17 Million shares.

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As per Thomson Reuters, 0.98% of Iron Mountain Incorporated’s shares are in the hands of company insiders while institutional holders own 86.35% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 49.8 Million on January 14, 2021, giving us a short ratio of 17.25. The data shows that as of January 14, 2021 short interest in Iron Mountain Incorporated (IRM) stood at 17.28% of shares outstanding, with shares short dropping from 50.07 Million registered in December. Current price change has pushed the stock +25.54% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the IRM stock continues to rise going into the next quarter.

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