Morals describe what is right and wrong, whereas values explain important behaviour and beliefs of a person or group. Morals are then based on the belief and understanding of those values.
Values are set on a group's beliefs. The word "evaluate" explains how values are surmised. People evaluate situations to decide their beliefs and then separate what is important and acceptable. These values then serve as a guide to the morals of the group. For example, by assessing that telling the truth is a good behaviour, a person has set honesty as a value. That person then incorporates that value into his view of morality, deeming honesty to be right and dishonesty to be wrong.