Wolfe Research Upgrades Jones Lang LaSalle (NYSE:JLL) to “Outperform”

Jones Lang LaSalle (NYSE:JLL) was upgraded by Wolfe Research from a “peer perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday, MarketBeat reports. The firm currently has a $353.00 target price on the financial services provider’s stock. Wolfe Research’s price objective points to a potential upside of 24.70% from the company’s current price.

A number of other analysts have also recently issued reports on JLL. StockNews.com upgraded shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 13th. Keefe, Bruyette & Woods boosted their price objective on Jones Lang LaSalle from $280.00 to $292.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $271.50.

Jones Lang LaSalle Trading Down 0.2 %

Jones Lang LaSalle stock opened at $283.09 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.29 and a current ratio of 2.29. The stock has a 50-day simple moving average of $265.81 and a 200 day simple moving average of $238.72. The stock has a market capitalization of $13.43 billion, a P/E ratio of 28.47 and a beta of 1.37. Jones Lang LaSalle has a 52 week low of $153.26 and a 52 week high of $288.50.

Jones Lang LaSalle (NYSE:JLL) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.83. Jones Lang LaSalle had a return on equity of 8.95% and a net margin of 2.12%. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.62 billion. During the same period in the previous year, the firm earned $2.01 EPS. The firm’s revenue was up 14.8% compared to the same quarter last year. Analysts expect that Jones Lang LaSalle will post 13.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Harbor Capital Advisors Inc. boosted its stake in shares of Jones Lang LaSalle by 433.3% in the second quarter. Harbor Capital Advisors Inc. now owns 11,546 shares of the financial services provider’s stock valued at $2,370,000 after buying an additional 9,381 shares during the period. BDF Gestion acquired a new stake in shares of Jones Lang LaSalle during the 2nd quarter worth $3,550,000. Wealth Enhancement Advisory Services LLC raised its stake in Jones Lang LaSalle by 782.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 9,113 shares of the financial services provider’s stock valued at $1,871,000 after purchasing an additional 8,080 shares in the last quarter. Comerica Bank lifted its position in Jones Lang LaSalle by 24.5% during the first quarter. Comerica Bank now owns 26,681 shares of the financial services provider’s stock worth $5,205,000 after purchasing an additional 5,255 shares during the period. Finally, Swedbank AB acquired a new stake in Jones Lang LaSalle during the first quarter worth about $97,018,000. Institutional investors and hedge funds own 94.80% of the company’s stock.

About Jones Lang LaSalle

Jones Lang LaSalle Incorporated operates as a commercial real estate and investment management company. It engages in the buying, building, occupying, managing, and investing in a commercial, industrial, hotel, residential, and retail properties in Americas, Europe, the Middle East, Africa, and the Asia Pacific.