Rosenblatt Securities Upgrades Sirius XM (NASDAQ:SIRI) to “Buy”

Sirius XM (NASDAQ:SIRI) was upgraded by investment analysts at Rosenblatt Securities from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. The firm currently has a $46.00 target price on the stock, up from their prior target price of $24.00. Rosenblatt Securities’ price target would suggest a potential upside of 63.93% from the company’s current price.

A number of other analysts also recently issued reports on SIRI. Weiss Ratings downgraded shares of Sirius XM from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, February 6th. JPMorgan Chase & Co. upgraded shares of Sirius XM from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $20.00 to $24.00 in a report on Tuesday, February 10th. UBS Group set a $24.00 price target on shares of Sirius XM in a report on Tuesday, February 10th. Barrington Research restated an “outperform” rating and set a $28.00 price target on shares of Sirius XM in a report on Thursday, February 5th. Finally, Moffett Nathanson started coverage on shares of Sirius XM in a report on Tuesday, January 27th. They issued a “neutral” rating and a $21.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $26.89.

Sirius XM Stock Up 7.2%

Shares of NASDAQ SIRI opened at $28.06 on Thursday. The company has a 50 day simple moving average of $22.80 and a 200-day simple moving average of $21.77. The company has a market capitalization of $9.44 billion, a P/E ratio of 12.53, a P/E/G ratio of 0.70 and a beta of 0.85. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.30 and a quick ratio of 0.30. Sirius XM has a 1 year low of $19.41 and a 1 year high of $28.44.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC increased its stake in Sirius XM by 6.1% in the first quarter. Janney Montgomery Scott LLC now owns 65,197 shares of the company’s stock valued at $1,505,000 after purchasing an additional 3,760 shares during the period. Pictet Asset Management Holding SA increased its stake in shares of Sirius XM by 8.7% during the first quarter. Pictet Asset Management Holding SA now owns 30,531 shares of the company’s stock worth $705,000 after acquiring an additional 2,438 shares during the period. Krilogy Financial LLC increased its stake in shares of Sirius XM by 16.0% during the first quarter. Krilogy Financial LLC now owns 62,154 shares of the company’s stock worth $1,537,000 after acquiring an additional 8,582 shares during the period. Everstar Asset Management LLC increased its stake in shares of Sirius XM by 1.5% during the first quarter. Everstar Asset Management LLC now owns 42,790 shares of the company’s stock worth $988,000 after acquiring an additional 626 shares during the period. Finally, Evolve Private Wealth LLC increased its stake in shares of Sirius XM by 5.5% during the first quarter. Evolve Private Wealth LLC now owns 16,366 shares of the company’s stock worth $378,000 after acquiring an additional 852 shares during the period. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Sirius XM Company Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.