Has Iron Mountain (IRM) Outpaced Other Finance Stocks This Year?
For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Iron Mountain (IRM) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Iron Mountain is a member of the Finance sector. This group includes 854 individual stocks and currently holds a Zacks Sector Rank of #15. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Iron Mountain is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for IRM's full-year earnings has moved 0.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that IRM has returned about 18.9% since the start of the calendar year. In comparison, Finance companies have returned an average of 6%. This shows that Iron Mountain is outperforming its peers so far this year.
JPMorgan Chase & Co. (JPM) is another Finance stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 12%.
The consensus estimate for JPMorgan Chase & Co.'s current year EPS has increased 7.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Iron Mountain belongs to the REIT and Equity Trust - Other industry, a group that includes 100 individual stocks and currently sits at #188 in the Zacks Industry Rank. This group has lost an average of 2.5% so far this year, so IRM is performing better in this area.
On the other hand, JPMorgan Chase & Co. belongs to the Banks - Major Regional industry. This 15-stock industry is currently ranked #202. The industry has moved -2.1% year to date.
Iron Mountain and JPMorgan Chase & Co. could continue their solid performance, so investors interested in Finance stocks should continue to pay close attention to these stocks.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Iron Mountain Incorporated (IRM) : Free Stock Analysis Report
JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report
