Morgan Stanley (NYSE:MS) Upgraded to “Buy” by Citigroup

Morgan Stanley (NYSE:MS) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage currently has a $52.00 target price on the financial services provider’s stock, up from their prior target price of $48.00. Citigroup‘s price target points to a potential upside of 16.51% from the stock’s current price.

MS has been the topic of several other reports. HSBC reiterated a “hold” rating on shares of Societe Generale in a research note on Thursday, April 4th. Oppenheimer set a $15.00 price objective on Strongbridge Biopharma and gave the company a “buy” rating in a research note on Tuesday, March 26th. Wells Fargo & Co reiterated a “buy” rating on shares of Morgan Stanley in a research note on Wednesday, April 17th. Royal Bank of Canada set a GBX 5,200 ($67.95) price objective on London Stock Exchange Group and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research note on Monday, May 13th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. Morgan Stanley presently has a consensus rating of “Hold” and a consensus price target of $55.48.

Shares of NYSE MS traded up $0.45 during mid-day trading on Friday, hitting $44.63. The company had a trading volume of 1,893,062 shares, compared to its average volume of 8,271,058. The stock has a market cap of $72.86 billion, a P/E ratio of 9.68, a PEG ratio of 1.03 and a beta of 1.31. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 2.60. Morgan Stanley has a 1-year low of $36.74 and a 1-year high of $51.53. The business’s 50-day moving average price is $43.04.

Morgan Stanley (NYSE:MS) last announced its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.16. The business had revenue of $10.29 billion for the quarter, compared to analysts’ expectations of $9.96 billion. Morgan Stanley had a return on equity of 11.45% and a net margin of 16.75%. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period last year, the firm earned $1.45 earnings per share. As a group, analysts expect that Morgan Stanley will post 4.67 earnings per share for the current fiscal year.

In other Morgan Stanley news, insider Daniel A. Simkowitz bought 7,000 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The shares were purchased at an average price of $47.57 per share, with a total value of $332,990.00. Following the completion of the acquisition, the insider now directly owns 193,089 shares of the company’s stock, valued at approximately $9,185,243.73. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Springhouse Capital Management LP purchased a new position in shares of Morgan Stanley during the fourth quarter worth about $8,069,000. Tyers Asset Management LLC grew its holdings in shares of Morgan Stanley by 125.6% during the first quarter. Tyers Asset Management LLC now owns 81,840 shares of the financial services provider’s stock worth $3,454,000 after purchasing an additional 45,562 shares during the last quarter. Lowe Brockenbrough & Co. Inc. grew its holdings in shares of Morgan Stanley by 0.6% during the fourth quarter. Lowe Brockenbrough & Co. Inc. now owns 115,414 shares of the financial services provider’s stock worth $4,576,000 after buying an additional 735 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd purchased a new position in shares of Morgan Stanley during the first quarter worth about $827,000. Finally, Markston International LLC grew its holdings in shares of Morgan Stanley by 3.8% during the first quarter. Markston International LLC now owns 213,191 shares of the financial services provider’s stock worth $8,997,000 after buying an additional 7,770 shares during the last quarter. 83.85% of the stock is currently owned by institutional investors.

Morgan Stanley Company Profile

Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals in the Americas, Europe, the Middle East, Africa, and Asia. The company operates through Institutional Securities, Wealth Management, and Investment Management segments.

Further Reading: Market Capitalization in the Stock Market

Analyst Recommendations for Morgan Stanley (NYSE:MS)

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