Morningstar (NASDAQ:MORN) Upgraded to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Morningstar to “Buy” from “Hold,” while broader analyst coverage indicates a “Moderate Buy” consensus with an average price target of $227.33.
• Morningstar shares opened at $195.98, compared with a 12-month range of $141.49 to $238.04. The company recently beat quarterly expectations, reporting $3.10 in earnings per share versus the $2.83 consensus and revenue of $663.2 million.
• Insiders have sold 86,500 shares worth approximately $17.8 million over the past three months, although company insiders still own 38.8% of the stock and institutional investors own 57.02%.

Morningstar (NASDAQ:MORN - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other equities research analysts also recently commented on the stock. UBS Group cut their target price on shares of Morningstar from $280.00 to $260.00 and set a "buy" rating on the stock in a research report on Tuesday, July 7th. Rothschild & Co Redburn set a $210.00 price target on shares of Morningstar in a research report on Thursday, June 18th. BMO Capital Markets reaffirmed an "outperform" rating and set a $212.00 price target on shares of Morningstar in a research note on Friday, June 26th. Finally, Weiss Ratings raised shares of Morningstar from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, August 14th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $227.33.

Morningstar Price Performance

Shares of MORN opened at $195.98 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.66. The stock has a market cap of $7.35 billion, a PE ratio of 18.56 and a beta of 1.00. Morningstar has a 12-month low of $141.49 and a 12-month high of $238.04. The business has a 50-day simple moving average of $200.23 and a two-hundred day simple moving average of $182.68.

Morningstar (NASDAQ:MORN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $3.10 EPS for the quarter, beating analysts' consensus estimates of $2.83 by $0.27. Morningstar had a return on equity of 38.57% and a net margin of 16.43%.The firm had revenue of $663.20 million for the quarter, compared to analyst estimates of $649.72 million.

Insider Transactions at Morningstar

In other news, Chairman Joseph Mansueto sold 7,906 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $210.26, for a total value of $1,662,315.56. Following the transaction, the chairman owned 7,960,570 shares in the company, valued at approximately $1,673,789,448.20. The trade was a 0.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 86,500 shares of company stock worth $17,824,451. 38.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Morningstar

Hedge funds and other institutional investors have recently bought and sold shares of the company. IFP Advisors Inc increased its stake in Morningstar by 45.2% during the 2nd quarter. IFP Advisors Inc now owns 315 shares of the business services provider's stock valued at $49,000 after purchasing an additional 98 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Morningstar by 151.7% in the fourth quarter. Hantz Financial Services Inc. now owns 219 shares of the business services provider's stock valued at $48,000 after buying an additional 132 shares in the last quarter. Personal CFO Solutions LLC grew its holdings in shares of Morningstar by 8.0% during the first quarter. Personal CFO Solutions LLC now owns 1,840 shares of the business services provider's stock valued at $311,000 after buying an additional 136 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Morningstar by 15.6% during the first quarter. PNC Financial Services Group Inc. now owns 1,007 shares of the business services provider's stock valued at $170,000 after buying an additional 136 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC bought a new stake in shares of Morningstar during the first quarter worth about $26,000. Institutional investors and hedge funds own 57.02% of the company's stock.

Morningstar Company Profile

Morningstar, Inc is a global provider of independent investment research, data, and financial information. The company serves individual investors, financial advisors, asset managers, institutions, and retirement plan providers with tools designed to support investment analysis, portfolio construction, and financial decision-making.

Its offerings include investment research and ratings, market and portfolio data, indexes, software platforms, and retirement planning solutions. Key products include Morningstar Direct for institutional research and analysis and Advisor Workstation for financial professionals.

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