BMO Capital Markets Forecasts Strong Price Appreciation for Morningstar (NASDAQ:MORN) Stock

Morningstar (NASDAQ:MORN) had its price objective raised by equities research analysts at BMO Capital Markets from $339.00 to $355.00 in a research report issued to clients and investors 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 15.45% from the company’s previous close.

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

Morningstar Price Performance

MORN stock opened at $307.48 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14. The stock’s 50 day moving average price is $286.66 and its 200 day moving average price is $317.67. The firm has a market cap of $12.99 billion, a P/E ratio of 40.62 and a beta of 0.99. Morningstar has a 1 year low of $250.34 and a 1 year high of $365.00.

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

Insider Activity

In related news, Chairman Joseph D. Mansueto sold 9,062 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $282.25, for a total transaction of $2,557,749.50. Following the sale, the chairman now directly owns 10,038,270 shares in the company, valued at approximately $2,833,301,707.50. This trade represents a 0.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 63,223 shares of company stock valued at $19,542,793. Company insiders own 36.20% of the company’s stock.

Hedge Funds Weigh In On Morningstar

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Deutsche Bank AG lifted its position in shares of Morningstar by 2.4% during the fourth quarter. Deutsche Bank AG now owns 1,798 shares of the business services provider’s stock worth $605,000 after purchasing an additional 42 shares in the last quarter. Ballentine Partners LLC grew its stake in shares of Morningstar by 3.4% during the first quarter. Ballentine Partners LLC now owns 1,290 shares of the business services provider’s stock valued at $387,000 after acquiring an additional 42 shares in the last quarter. V Square Quantitative Management LLC increased its position in shares of Morningstar by 49.5% during the fourth quarter. V Square Quantitative Management LLC now owns 139 shares of the business services provider’s stock worth $47,000 after acquiring an additional 46 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Morningstar by 10.5% in the first quarter. UMB Bank n.a. now owns 516 shares of the business services provider’s stock worth $155,000 after acquiring an additional 49 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its stake in shares of Morningstar by 1.0% in the first quarter. Linden Thomas Advisory Services LLC now owns 5,200 shares of the business services provider’s stock worth $1,559,000 after acquiring an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 57.02% of the company’s stock.

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.