Iron Mountain Inc. (NYSE: IRM) is a global leader in storage and information management services; IRM stock rallied 17.59% YTD. Per the company profile, over 225,000 organizations trust its sensitive and irreplaceable documents and resources worldwide. The physical storage footprint is around 93 Million sq ft., spawned in 1,450 facilities across 56 countries.
Iron Mountain Inc. (IRM Stock) – Financial Analysis
Iron Mountain encompasses the idea of undervalued non-tech stocks, as tech often fails. They believe digitization is good, but a natural disaster, a blackout, or a hack can destroy digital data. Hence the company provides hard insurance, keeping safe the physical copies of data in a neat and strategically stored manner.
Foundations Investment Advisors LLC raised its position in the company in Q1 2023 and bought 4,776 shares worth $253k. Compass Wealth Management LLC purchased new stakes in Q4 2022 for $26k. Prostatis Group LLC bought a new position in Q4 worth $33k. At press time, Amazon.com Inc. (NASDAQ: AMZN) trades at $134.30, gaining 3.50% pre-market; experts are optimistic about Prime Days.
NYSE: IRM is currently trading at $59.11, dropping 0.44%. Previous close and open were at $59.35 and $59.45, respectively. The 52-week range is from $43.33 to $59.73, indicative of a possibility that the current price might create new highs soon. With an average volume of 1.43 Million shares, the market cap is at $17.238 Billion.
The trailing twelve-month (ttm) price-to-earnings (P/E) ratio is 29.85, indicating a fairly valued stock. Also, the (ttm) earnings per share (EPS) is $1.98. The analysis placed a 2.67 rating for moderate buy and estimated a price target at $62.00 with a 4.9% upside.
The last earnings report was released on May 4, 2023, where the reported revenue of $1.341 Billion failed to surpass the expected value o $1.315 Billion by 0.09%. At the same time, the reported earnings of $0.42 per share beat the estimated value of $0.347 per share by 21.10%. The subsequent earnings will be out on August 3, 2023, where the estimated revenue is $1.354 Billion, and earnings to be $0.313 per share.
The profit margin swelled by 11.20%, and the (ttm) operating margin gained 20.80%. Revenue (ttm) is $5.17 Billion, while the year-over-year (YoY) quarterly revenue growth is 5.30%. Gross profit (ttm) is $2.19 Billion. Total cash in hand at the end of the most recent quarter (mrq) is $146.44 Million, while total debt is $13.77 Billion.
Iron Mountain Inc. (IRM Stock) – Candle Exploration
An ascending trend line, followed by an upward-moving EMA, indicates a positive momentum. Also, the recent steep rally hints the price could break the 52-week high and create a new high point for 2023. But the RSI value of 66.74, getting close to the overbought zone, hints towards retracement.
If so, the price shall consolidate above the trading zone for some time. As long as the price is above S1 at $53.78, chances for a rally are high. If the price action decides to slow down and go below S1, it would be greeted by S2 at $51.36. Overall there is positive momentum in NYSE: IRM share price action.
Disclaimer:
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets and stocks comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/07/14/iron-mountain-inc-irm-stock-challenging-digitization/