Morningstar (NASDAQ:MORN) Price Target Raised to $355.00

Morningstar (NASDAQ:MORN) had its price objective increased by equities researchers at BMO Capital Markets from $339.00 to $355.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ price target suggests a potential upside of 14.94% from the company’s current price.

Separately, StockNews.com raised shares of Morningstar from a “hold” rating to a “buy” rating in a research report on Friday, May 2nd.

Morningstar Stock Performance

Shares of Morningstar stock traded up $4.56 during trading on Monday, reaching $308.86. The company’s stock had a trading volume of 79,588 shares, compared to its average volume of 138,890. The business’s 50-day moving average price is $286.30 and its 200-day moving average price is $317.91. The firm has a market cap of $13.05 billion, a PE ratio of 40.79 and a beta of 0.99. Morningstar has a 52 week low of $250.34 and a 52 week high of $365.00. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings data on Wednesday, April 30th. The business services provider reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.13. Morningstar had a net margin of 14.69% and a return on equity of 23.28%. The business had revenue of $581.90 million during the quarter, compared to analysts’ expectations of $589.07 million.

Insider Activity

In related news, Chairman Joseph D. Mansueto sold 9,062 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $326.86, for a total value of $2,962,005.32. Following the transaction, the chairman now directly owns 10,109,617 shares in the company, valued at $3,304,429,412.62. This trade represents a 0.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 64,503 shares of company stock valued at $19,953,122 over the last quarter. 36.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Morningstar

A number of large investors have recently modified their holdings of MORN. Hughes Financial Services LLC bought a new position in shares of Morningstar in the 1st quarter worth $25,000. Smartleaf Asset Management LLC raised its position in Morningstar by 178.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 78 shares of the business services provider’s stock valued at $26,000 after buying an additional 50 shares during the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new stake in Morningstar in the 4th quarter valued at $28,000. R Squared Ltd purchased a new stake in Morningstar in the 4th quarter valued at $40,000. Finally, Larson Financial Group LLC raised its position in Morningstar by 5,066.7% in the 1st quarter. Larson Financial Group LLC now owns 155 shares of the business services provider’s stock valued at $46,000 after buying an additional 152 shares during the last quarter. 57.02% of the stock is currently owned by 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.