StockNews.com Upgrades Morningstar (NASDAQ:MORN) to “Buy”

Morningstar (NASDAQ:MORN) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

MORN has been the topic of a number of other research reports. BMO Capital Markets reiterated an “outperform” rating and set a $352.00 price objective on shares of Morningstar in a research report on Wednesday, August 28th. Redburn Atlantic downgraded Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price objective on the stock. in a research report on Wednesday, October 9th. Finally, UBS Group began coverage on Morningstar in a research report on Tuesday, October 8th. They set a “buy” rating and a $390.00 price objective on the stock. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $360.67.

Morningstar Stock Performance

Shares of NASDAQ:MORN opened at $352.91 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14. The business’s 50 day moving average price is $342.84 and its 200-day moving average price is $318.54. The firm has a market capitalization of $15.13 billion, a PE ratio of 46.60 and a beta of 1.19. Morningstar has a 1 year low of $269.51 and a 1 year high of $362.01.

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

Insider Activity at Morningstar

In related news, Chairman Joseph D. Mansueto sold 9,062 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $328.22, for a total value of $2,974,329.64. Following the sale, the chairman now owns 10,845,718 shares in the company, valued at approximately $3,559,781,561.96. The trade was a 0.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William M. Lyons sold 750 shares of the business’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 directly owns 12,840 shares of the company’s stock, valued at $4,261,339.20. The trade was a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,188 shares of company stock worth $16,823,772. 39.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. CIBC Asset Management Inc grew its stake in Morningstar by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 1,259 shares of the business services provider’s stock worth $402,000 after purchasing an additional 41 shares in the last quarter. Legacy Advisors LLC boosted its position in shares of Morningstar by 1.6% during the 2nd quarter. Legacy Advisors LLC now owns 3,025 shares of the business services provider’s stock worth $895,000 after acquiring an additional 49 shares in the last quarter. Planning Alternatives Ltd. ADV boosted its position in shares of 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 acquiring an additional 49 shares in the last quarter. Great Valley Advisor Group Inc. boosted its position in shares of Morningstar by 7.3% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 754 shares of the business services provider’s stock worth $223,000 after acquiring an additional 51 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Morningstar by 38.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 196 shares of the business services provider’s stock worth $58,000 after acquiring an additional 54 shares in the last quarter. 57.02% of the stock is owned by institutional investors and hedge funds.

Morningstar Company Profile

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.