Moody’s (NYSE:MCO) PT Raised to $240.00 at JPMorgan Chase & Co.

Moody’s (NYSE:MCO) had its target price upped by investment analysts at JPMorgan Chase & Co. from $220.00 to $240.00 in a research report issued on Thursday, BenzingaRatingsTable reports. The firm currently has an “overweight” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 11.99% from the company’s previous close.

MCO has been the topic of a number of other research reports. Wells Fargo & Co increased their price target on Moody’s from $170.00 to $195.00 and gave the stock a “market perform” rating in a research report on Thursday, April 25th. Cantor Fitzgerald increased their price target on Moody’s from $168.00 to $192.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. UBS Group increased their price target on Moody’s from $200.00 to $215.00 and gave the stock a “neutral” rating in a research report on Thursday. BMO Capital Markets increased their price target on Moody’s from $189.00 to $194.00 and gave the stock a “market perform” rating in a research report on Thursday, April 25th. Finally, Morgan Stanley increased their price target on Moody’s from $150.00 to $164.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $196.30.

NYSE:MCO traded down $1.75 during trading hours on Thursday, reaching $214.30. 866,481 shares of the company were exchanged, compared to its average volume of 598,213. The firm has a market capitalization of $40.64 billion, a P/E ratio of 29.00, a P/E/G ratio of 2.08 and a beta of 1.26. Moody’s has a 1-year low of $129.26 and a 1-year high of $220.68. The company has a debt-to-equity ratio of 9.38, a current ratio of 1.71 and a quick ratio of 1.45. The firm has a 50 day moving average of $200.29.

Moody’s (NYSE:MCO) last issued its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.09. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.20 billion. Moody’s had a return on equity of 266.42% and a net margin of 27.66%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.04 earnings per share. On average, equities research analysts forecast that Moody’s will post 8.01 EPS for the current year.

In other Moody’s news, insider Raymond W. Mcdaniel sold 55,422 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $182.23, for a total value of $10,099,551.06. Following the sale, the insider now owns 275,716 shares of the company’s stock, valued at approximately $50,243,726.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Melanie Hughes sold 3,039 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $197.52, for a total value of $600,263.28. Following the completion of the sale, the senior vice president now directly owns 3,912 shares in the company, valued at approximately $772,698.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 155,354 shares of company stock worth $29,451,615. Company insiders own 0.90% of the company’s stock.

Several hedge funds have recently modified their holdings of the business. Cornerstone Advisors Inc. boosted its holdings in shares of Moody’s by 16.5% in the 1st quarter. Cornerstone Advisors Inc. now owns 409 shares of the business services provider’s stock valued at $74,000 after purchasing an additional 58 shares in the last quarter. Berman Capital Advisors LLC lifted its stake in shares of Moody’s by 34.2% in the 2nd quarter. Berman Capital Advisors LLC now owns 247 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 63 shares during the last quarter. Advisory Services Network LLC lifted its stake in shares of Moody’s by 7.2% in the 4th quarter. Advisory Services Network LLC now owns 1,036 shares of the business services provider’s stock valued at $145,000 after acquiring an additional 70 shares during the last quarter. Wetherby Asset Management Inc. lifted its stake in shares of Moody’s by 1.7% in the 1st quarter. Wetherby Asset Management Inc. now owns 4,304 shares of the business services provider’s stock valued at $779,000 after acquiring an additional 72 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Moody’s by 6.5% in the 2nd quarter. Signaturefd LLC now owns 1,250 shares of the business services provider’s stock valued at $244,000 after acquiring an additional 76 shares during the last quarter. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

About Moody’s

Moody's Corporation provides credit ratings; and credit, capital markets, and economic research, data, and analytical tools worldwide. It operates through two segments, Moody's Investors Service and Moody's Analytics. The Moody's Investors Service segment publishes credit ratings on various debt obligations and entities that issue such obligations, such as various corporate and governmental obligations, structured finance securities, and commercial paper programs.

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Analyst Recommendations for Moody`s (NYSE:MCO)

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