Morningstar (NASDAQ:MORN) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Morningstar (NASDAQ:MORN) from a hold rating to a buy rating in a report published on Friday morning.

Several other research firms have also commented on MORN. Weiss Ratings reiterated a “hold (c-)” rating on shares of Morningstar in a research note on Wednesday. BMO Capital Markets set a $250.00 price target on Morningstar in a research report on Thursday, October 30th. Finally, UBS Group decreased their price objective on Morningstar from $350.00 to $320.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $285.00.

Morningstar Price Performance

Shares of MORN stock opened at $214.87 on Friday. Morningstar has a 1-year low of $202.89 and a 1-year high of $365.00. The stock’s 50-day moving average is $219.34 and its 200 day moving average is $261.80. The company has a market cap of $8.84 billion, a P/E ratio of 24.44 and a beta of 1.06. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.13 and a quick ratio of 1.13.

Morningstar (NASDAQ:MORN) last announced its earnings results on Wednesday, October 29th. The business services provider reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.13. The business had revenue of $617.40 million during the quarter, compared to the consensus estimate of $603.29 million. Morningstar had a net margin of 15.70% and a return on equity of 24.68%.

Insider Activity

In other news, Chairman Joseph D. Mansueto sold 7,250 shares of Morningstar stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $211.95, for a total transaction of $1,536,637.50. Following the completion of the sale, the chairman directly owned 8,693,565 shares in the company, valued at approximately $1,842,601,101.75. The trade was a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 63,750 shares of company stock valued at $13,537,223 over the last three months. Company insiders own 36.20% of the company’s stock.

Hedge Funds Weigh In On Morningstar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MORN. Nordea Investment Management AB raised its position in Morningstar by 3.0% during the 2nd quarter. Nordea Investment Management AB now owns 60,181 shares of the business services provider’s stock worth $18,801,000 after buying an additional 1,755 shares during the last quarter. Voya Investment Management LLC increased its stake in shares of Morningstar by 9.1% in the first quarter. Voya Investment Management LLC now owns 12,940 shares of the business services provider’s stock worth $3,880,000 after acquiring an additional 1,081 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Morningstar by 90.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,425 shares of the business services provider’s stock worth $1,066,000 after acquiring an additional 1,623 shares during the period. Brighton Jones LLC purchased a new position in shares of Morningstar during the second quarter worth $373,000. Finally, Signaturefd LLC lifted its position in Morningstar by 14.5% during the second quarter. Signaturefd LLC now owns 410 shares of the business services provider’s stock valued at $129,000 after purchasing an additional 52 shares during the period. Hedge funds and other institutional investors own 57.02% of the company’s stock.

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.