Sirius XM (NASDAQ:SIRI) Stock Rating Upgraded by JPMorgan Chase & Co.

Sirius XM (NASDAQ:SIRI) was upgraded by investment analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a report released on Tuesday, Marketbeat.com reports. The firm currently has a $24.00 price objective on the stock, up from their prior price objective of $20.00. JPMorgan Chase & Co.‘s price target indicates a potential upside of 9.59% from the company’s current price.

Several other analysts have also recently weighed in on SIRI. 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 on the stock. Benchmark restated a “buy” rating and issued a $30.00 price objective (up from $28.00) on shares of Sirius XM in a report on Friday, October 31st. Rosenblatt Securities lifted their price objective on shares of Sirius XM from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. UBS Group set a $24.00 target price on shares of Sirius XM in a research note on Tuesday. Finally, Barrington Research restated an “outperform” rating and issued a $28.00 price target on shares of Sirius XM in a research note on Thursday, February 5th. Three 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, the company currently has an average rating of “Hold” and a consensus target price of $24.44.

Sirius XM Stock Up 2.6%

Shares of NASDAQ SIRI opened at $21.90 on Tuesday. The stock has a market cap of $7.33 billion, a P/E ratio of 9.78, a PEG ratio of 0.36 and a beta of 0.93. The business’s fifty day simple moving average is $20.98 and its 200-day simple moving average is $21.79. Sirius XM has a 12-month low of $18.69 and a 12-month high of $27.41. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.75.

Institutional Trading of Sirius XM

Several institutional investors and hedge funds have recently bought and sold shares of SIRI. Berkshire Hathaway Inc raised its stake in Sirius XM by 4.2% during the 3rd quarter. Berkshire Hathaway Inc now owns 124,807,117 shares of the company’s stock valued at $2,904,886,000 after acquiring an additional 5,030,425 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Sirius XM by 165.2% during the second quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock worth $117,327,000 after purchasing an additional 3,233,922 shares during the last quarter. Check Capital Management Inc. CA raised its stake in shares of Sirius XM by 39.9% during the fourth quarter. Check Capital Management Inc. CA now owns 2,883,500 shares of the company’s stock worth $57,656,000 after purchasing an additional 821,657 shares during the last quarter. Norges Bank acquired a new stake in shares of Sirius XM during the fourth quarter worth $57,124,000. Finally, Ameriprise Financial Inc. grew its position in Sirius XM by 4.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,635,274 shares of the company’s stock valued at $61,336,000 after buying an additional 119,755 shares during the last quarter. Hedge funds and other 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.