Sirius XM (NASDAQ:SIRI) Rating Increased to In-Line at Evercore ISI

Sirius XM (NASDAQ:SIRI) was upgraded by stock analysts at Evercore ISI from an “underperform” rating to an “in-line” rating in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage presently has a $3.25 price objective on the stock, down from their previous price objective of $4.25. Evercore ISI’s price objective would suggest a potential upside of 22.18% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. The Goldman Sachs Group upgraded Sirius XM from a “sell” rating to a “neutral” rating and dropped their target price for the company from $3.50 to $3.25 in a report on Wednesday, May 1st. Benchmark lowered their price target on Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Citigroup raised Sirius XM from a “sell” rating to a “neutral” rating and lowered their price target for the company from $4.10 to $3.30 in a research report on Wednesday, April 24th. Barrington Research reaffirmed an “outperform” rating and set a $4.75 price target on shares of Sirius XM in a research report on Tuesday, May 28th. Finally, Guggenheim started coverage on Sirius XM in a research report on Thursday, March 14th. They set a “neutral” rating and a $4.00 price target for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $4.21.

Sirius XM Price Performance

Shares of SIRI stock opened at $2.66 on Monday. The stock has a market capitalization of $10.23 billion, a PE ratio of 8.06, a P/E/G ratio of 0.96 and a beta of 1.08. Sirius XM has a 1-year low of $2.45 and a 1-year high of $7.95. The business has a 50-day moving average of $2.89 and a 200 day moving average of $4.06.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. Sirius XM’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.06 EPS. Analysts anticipate that Sirius XM will post 0.31 EPS for the current year.

Insider Buying and Selling at Sirius XM

In other Sirius XM news, Director Kristina Salen sold 12,518 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $2.62, for a total transaction of $32,797.16. Following the sale, the director now directly owns 181,827 shares in the company, valued at approximately $476,386.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Sirius XM by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock valued at $299,111,000 after purchasing an additional 363,551 shares during the last quarter. Berkshire Hathaway Inc boosted its stake in shares of Sirius XM by 315.6% in the 4th quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock worth $220,130,000 after buying an additional 30,559,834 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Sirius XM by 482.9% in the 3rd quarter. AQR Capital Management LLC now owns 14,641,104 shares of the company’s stock worth $66,178,000 after buying an additional 12,129,166 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Sirius XM by 18.7% in the 3rd quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock worth $50,878,000 after buying an additional 1,776,700 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Sirius XM by 24.1% in the 3rd quarter. Invesco Ltd. now owns 8,671,095 shares of the company’s stock worth $39,193,000 after buying an additional 1,685,696 shares during the last quarter. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Sirius XM Company Profile

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company's Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.