Morningstar (NASDAQ:MORN) Upgraded by StockNews.com to “Buy” Rating

Morningstar (NASDAQ:MORN) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

A number of other brokerages have also recently issued reports on MORN. UBS Group initiated coverage on shares of Morningstar in a research note on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price target on the stock. Redburn Atlantic cut Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 target price on the stock. in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Morningstar presently has an average rating of “Moderate Buy” and an average target price of $360.67.

Morningstar Price Performance

Shares of MORN stock opened at $324.58 on Wednesday. Morningstar has a twelve month low of $269.51 and a twelve month high of $365.00. The stock has a market cap of $13.92 billion, a price-to-earnings ratio of 42.88 and a beta of 1.20. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55. The business’s fifty day moving average is $342.73 and its 200 day moving average is $326.08.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $2.00 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.01). Morningstar had a return on equity of 23.28% and a net margin of 14.69%. The business had revenue of $569.40 million for the quarter.

Insider Activity

In other Morningstar news, Director William M. Lyons sold 750 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $331.88, for a total value of $248,910.00. Following the transaction, the director now owns 12,840 shares in the company, valued at approximately $4,261,339.20. This trade represents a 5.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Joseph D. Mansueto sold 9,062 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $328.22, for a total transaction of $2,974,329.64. Following the completion of the sale, the chairman now owns 10,845,718 shares of the company’s stock, valued at approximately $3,559,781,561.96. The trade was a 0.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,661 shares of company stock valued at $17,723,744 in the last ninety days. Insiders own 37.70% of the company’s stock.

Hedge Funds Weigh In On Morningstar

A number of hedge funds have recently modified their holdings of the business. Harbor Capital Advisors Inc. boosted its stake in shares of Morningstar by 0.7% in the fourth quarter. Harbor Capital Advisors Inc. now owns 5,626 shares of the business services provider’s stock valued at $1,895,000 after purchasing an additional 37 shares during the period. Versant Capital Management Inc increased its position in shares of Morningstar by 15.9% during the fourth quarter. Versant Capital Management Inc now owns 285 shares of the business services provider’s stock worth $96,000 after acquiring an additional 39 shares during the period. CIBC Asset Management Inc raised its stake in shares of Morningstar by 3.4% in the third quarter. CIBC Asset Management Inc now owns 1,259 shares of the business services provider’s stock valued at $402,000 after acquiring an additional 41 shares in the last quarter. Planning Alternatives Ltd. ADV grew its stake in Morningstar by 2.2% during the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,254 shares of the business services provider’s stock worth $719,000 after purchasing an additional 49 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in Morningstar by 15.7% during the 3rd quarter. UMB Bank n.a. now owns 413 shares of the business services provider’s stock worth $132,000 after purchasing an additional 56 shares during the period. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

About Morningstar

Morningstar, Inc provides independent investment insights in the United States, Asia. Australia, Continental Europe, the United Kingdom, and internationally. The company operates in five segments: Morningstar Data and Analytics; PitchBook; Morningstar Wealth; Morningstar Credit; and Morningstar Retirement.