Sirius XM (NASDAQ:SIRI) Upgraded at The Goldman Sachs Group

Sirius XM (NASDAQ:SIRI) was upgraded by stock analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Briefing.com reports. The brokerage presently has a $37.00 target price on the stock. The Goldman Sachs Group‘s target price points to a potential upside of 25.13% from the company’s current price.

Several other equities research analysts have also weighed in on SIRI. Bank of America reissued an “underperform” rating on shares of Sirius XM in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft upgraded Sirius XM from a “hold” rating to a “buy” rating and boosted their price objective for the company from $31.00 to $45.00 in a research note on Wednesday, September 2nd. Weiss Ratings raised shares of Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Benchmark reaffirmed a “buy” rating on shares of Sirius XM in a report on Wednesday, July 29th. Finally, Wells Fargo & Company increased their target price on shares of Sirius XM from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Friday. Nine equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.08.

Sirius XM Stock Performance

NASDAQ:SIRI opened at $29.57 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.46 and a quick ratio of 0.46. The business has a fifty day simple moving average of $27.54 and a two-hundred day simple moving average of $26.21. Sirius XM has a 1 year low of $19.76 and a 1 year high of $32.66. The company has a market capitalization of $9.97 billion, a P/E ratio of 12.12, a P/E/G ratio of 0.50 and a beta of 0.98.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, October 29th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.01. Sirius XM had a return on equity of 9.37% and a net margin of 10.23%. The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the company posted $0.84 earnings per share. The business’s revenue was down .4% on a year-over-year basis. On average, analysts expect that Sirius XM will post 3.00 earnings per share for the current year.

Insider Transactions at Sirius XM

In other Sirius XM news, Director Jonelle Procope sold 16,672 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $29.97, for a total transaction of $499,659.84. Following the sale, the director owned 18,354 shares in the company, valued at $550,069.38. This represents a 47.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.27% of the stock is owned by insiders.

Hedge Funds Weigh In On Sirius XM

Several hedge funds have recently made changes to their positions in SIRI. Sunbelt Securities Inc. grew its position in shares of Sirius XM by 158.5% in the first quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company’s stock valued at $30,000 after purchasing an additional 794 shares in the last quarter. Root Financial Partners LLC lifted its holdings in Sirius XM by 612.8% during the 1st quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock worth $32,000 after purchasing an additional 1,195 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in Sirius XM during the 2nd quarter worth about $32,000. Western Wealth Management LLC purchased a new stake in Sirius XM during the 1st quarter worth about $33,000. Finally, Altshuler Shaham Ltd boosted its stake in Sirius XM by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company’s stock worth $36,000 after purchasing an additional 417 shares during the period. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Sirius XM Company Profile

Sirius XM Holdings Inc is a media and entertainment company that provides subscription-based audio programming through its SiriusXM service. The company delivers a broad range of commercial-free music, live sports, news, talk and entertainment programming, including exclusive channels, original shows and coverage of major events.

SiriusXM content is distributed primarily through satellite radio and internet streaming. Subscribers can access the service in vehicles, through the SiriusXM mobile app and website, and on supported connected devices.