Sirius XM (NASDAQ:SIRI) Earns "Outperform" Rating from Barrington Research

Key Points

• Sirius XM received an "outperform" rating from Barrington Research, with a price target of $28.00, suggesting a potential upside of 32.58% from its current price.
• The company reported $0.57 EPS for the last quarter, missing analysts' expectations, while its revenue declined by 1.8% compared to the same period last year.
• Despite a mix of ratings from analysts, the consensus rating for Sirius XM is currently "Hold" with an average price target of $26.50.

Sirius XM (NASDAQ:SIRI - Get Free Report)'s stock had its "outperform" rating reissued by equities research analysts at Barrington Research in a note issued to investors on Friday,Benzinga reports. They currently have a $28.00 price target on the stock. Barrington Research's price objective would indicate a potential upside of 32.58% from the stock's current price.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley lifted their price objective on Sirius XM from $21.00 to $22.00 and gave the company an "underweight" rating in a research report on Wednesday, July 16th. Guggenheim reissued a "buy" rating and set a $29.00 price target on shares of Sirius XM in a research report on Thursday, June 26th. Rosenblatt Securities lowered their price target on Sirius XM from $24.00 to $22.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Wells Fargo & Company boosted their price target on Sirius XM from $16.00 to $19.00 and gave the company an "underweight" rating in a research report on Wednesday, July 2nd. Finally, Seaport Res Ptn raised Sirius XM from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Six equities research analysts have rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $26.50.

Sirius XM Price Performance

Shares of NASDAQ:SIRI opened at $21.12 on Friday. The company has a market cap of $7.14 billion, a P/E ratio of -3.24, a P/E/G ratio of 0.33 and a beta of 0.92. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.93. Sirius XM has a 52 week low of $18.69 and a 52 week high of $36.40. The business has a fifty day simple moving average of $22.80 and a 200-day simple moving average of $22.71.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.57 EPS for the quarter, missing analysts' consensus estimates of $0.76 by ($0.19). Sirius XM had a negative net margin of 25.00% and a positive return on equity of 6.77%. Sirius XM's revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.80 earnings per share. Equities research analysts forecast that Sirius XM will post 3.2 EPS for the current year.

Insider Transactions at Sirius XM

In other news, Director Kristina Salen sold 1,651 shares of Sirius XM stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $22.27, for a total transaction of $36,767.77. Following the sale, the director owned 15,471 shares in the company, valued at $344,539.17. This trade represents a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Brighton Jones LLC lifted its position in shares of Sirius XM by 54.4% during the second quarter. Brighton Jones LLC now owns 47,426 shares of the company's stock worth $1,089,000 after purchasing an additional 16,711 shares in the last quarter. Focus Partners Advisor Solutions LLC lifted its position in shares of Sirius XM by 201.9% during the second quarter. Focus Partners Advisor Solutions LLC now owns 36,195 shares of the company's stock worth $831,000 after purchasing an additional 24,206 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of Sirius XM by 10.4% during the second quarter. State of New Jersey Common Pension Fund D now owns 85,456 shares of the company's stock worth $1,963,000 after purchasing an additional 8,076 shares in the last quarter. AlphaQuest LLC lifted its position in shares of Sirius XM by 309.9% during the second quarter. AlphaQuest LLC now owns 78,910 shares of the company's stock worth $1,813,000 after purchasing an additional 59,658 shares in the last quarter. Finally, Paralel Advisors LLC acquired a new position in shares of Sirius XM in the second quarter worth about $2,722,000. 10.69% of the stock is owned by institutional investors and hedge funds.

About Sirius XM

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.

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