Sirius XM (NASDAQ:SIRI) Upgraded at JPMorgan Chase & Co.

Sirius XM (NASDAQ:SIRI) was upgraded by JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage currently has a $24.00 price objective on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 14.56% from the stock’s current price.

Several other equities analysts have also recently weighed in on SIRI. Weiss Ratings cut Sirius XM from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. Benchmark reiterated a “buy” rating and set a $30.00 price target (up from $28.00) on shares of Sirius XM in a report on Friday, October 31st. Rosenblatt Securities raised their price objective on shares of Sirius XM from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday. Moffett Nathanson started coverage on shares of Sirius XM in a research report on Tuesday, January 27th. They set a “neutral” rating and a $21.00 target price on the stock. Finally, Barrington Research reissued an “outperform” rating and issued a $28.00 price target on shares of Sirius XM in a report on Thursday, February 5th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $24.44.

Sirius XM Stock Down 3.4%

Shares of SIRI stock opened at $20.95 on Tuesday. The stock’s 50 day simple moving average is $20.96 and its 200 day simple moving average is $21.80. Sirius XM has a twelve month low of $18.69 and a twelve month high of $27.41. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market capitalization of $7.01 billion, a price-to-earnings ratio of 9.35, a PEG ratio of 0.29 and a beta of 0.93.

Institutional Investors Weigh In On Sirius XM

Large investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. boosted its stake in shares of Sirius XM by 36.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after purchasing an additional 493 shares in the last quarter. True Wealth Design LLC boosted its position in Sirius XM by 47.8% in the second quarter. True Wealth Design LLC now owns 1,616 shares of the company’s stock valued at $37,000 after buying an additional 523 shares in the last quarter. Krilogy Financial LLC grew its stake in Sirius XM by 1.1% during the fourth quarter. Krilogy Financial LLC now owns 53,572 shares of the company’s stock worth $1,097,000 after buying an additional 577 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in Sirius XM by 4.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 13,589 shares of the company’s stock worth $272,000 after buying an additional 594 shares during the last quarter. Finally, J.W. Cole Advisors Inc. increased its holdings in shares of Sirius XM by 6.5% during the second quarter. J.W. Cole Advisors Inc. now owns 9,934 shares of the company’s stock worth $228,000 after buying an additional 605 shares in the last quarter. 10.69% of the stock is currently owned by institutional investors.

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.