Barrington Research Forecasts Strong Price Appreciation for Sirius XM (NASDAQ:SIRI) Stock

Key Points

• Barrington Research raised its price target on Sirius XM from $28 to $32 and maintained an "outperform" rating, implying about a 17.8% upside from the prior close.
• Analyst views are mixed—four Buy, four Hold and three Sell—resulting in a consensus rating of "Hold" with a $28.10 consensus target, though firms like Guggenheim ($34) and Rosenblatt ($46) have materially higher targets.
• Sirius XM posted a Q1 EPS beat of $0.72 vs. $0.70 expected and revenue of $2.09B vs. $2.07B, while the stock trades around $27.16 with a market cap near $9.1B and a PE of 11.47.

Sirius XM (NASDAQ:SIRI - Get Free Report) had its price target hoisted by Barrington Research from $28.00 to $32.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Barrington Research's price objective indicates a potential upside of 17.84% from the stock's previous close.

A number of other equities analysts have also weighed in on SIRI. Guggenheim reiterated a "buy" rating and set a $34.00 target price (up from $29.00) on shares of Sirius XM in a research report on Friday, April 24th. Moffett Nathanson began coverage on shares of Sirius XM in a research note on Tuesday, January 27th. They set a "neutral" rating and a $21.00 price target on the stock. Rosenblatt Securities raised shares of Sirius XM from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $24.00 to $46.00 in a report on Thursday, April 23rd. Evercore set a $28.00 price objective on shares of Sirius XM in a research note on Friday. Finally, UBS Group set a $24.00 target price on shares of Sirius XM in a report on Tuesday, February 10th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $28.10.

Sirius XM Stock Performance

Shares of SIRI opened at $27.16 on Monday. Sirius XM has a 1 year low of $19.76 and a 1 year high of $28.77. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.44 and a quick ratio of 0.44. The stock's fifty day moving average price is $23.48 and its two-hundred day moving average price is $21.97. The firm has a market cap of $9.14 billion, a PE ratio of 11.47, a PEG ratio of 0.72 and a beta of 0.94.

Sirius XM (NASDAQ:SIRI - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. Sirius XM had a return on equity of 9.19% and a net margin of 9.86%.The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the company earned $0.59 EPS. The firm's quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts forecast that Sirius XM will post 3.09 EPS for the current year.

Institutional Trading of Sirius XM

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brighton Jones LLC purchased a new position in shares of Sirius XM during the 4th quarter valued at $622,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Sirius XM by 11.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 925,313 shares of the company's stock worth $20,861,000 after buying an additional 92,111 shares in the last quarter. Focus Partners Wealth boosted its stake in Sirius XM by 5.2% during the first quarter. Focus Partners Wealth now owns 16,273 shares of the company's stock valued at $367,000 after buying an additional 800 shares during the period. Geneos Wealth Management Inc. boosted its stake in Sirius XM by 36.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company's stock valued at $41,000 after buying an additional 493 shares during the period. Finally, Sivia Capital Partners LLC purchased a new position in Sirius XM during the second quarter worth about $208,000. Institutional investors own 10.69% of the company's stock.

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.

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