Jones Lang LaSalle (NYSE:JLL) Downgraded by StockNews.com to “Buy”

StockNews.com downgraded shares of Jones Lang LaSalle (NYSE:JLL) from a strong-buy rating to a buy rating in a report issued on Tuesday morning.

Several other research firms also recently commented on JLL. Keefe, Bruyette & Woods upgraded Jones Lang LaSalle from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $292.00 to $325.00 in a report on Tuesday, December 10th. JPMorgan Chase & Co. boosted their price target on shares of Jones Lang LaSalle from $263.00 to $327.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Wolfe Research raised shares of Jones Lang LaSalle from a “peer perform” rating to an “outperform” rating and set a $353.00 price objective on the stock in a research note on Monday, November 25th. Raymond James upped their target price on shares of Jones Lang LaSalle from $317.00 to $320.00 and gave the stock a “strong-buy” rating in a report on Friday, January 24th. Finally, The Goldman Sachs Group began coverage on Jones Lang LaSalle in a research note on Friday, December 6th. They set a “buy” rating and a $352.00 price target for the company. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Jones Lang LaSalle has a consensus rating of “Buy” and a consensus target price of $309.00.

Jones Lang LaSalle Stock Performance

Shares of JLL stock opened at $267.28 on Tuesday. The company has a market cap of $12.67 billion, a price-to-earnings ratio of 23.67 and a beta of 1.36. Jones Lang LaSalle has a 52 week low of $171.45 and a 52 week high of $288.50. The firm has a 50 day moving average of $265.57 and a 200-day moving average of $263.76. The company has a quick ratio of 2.29, a current ratio of 2.00 and a debt-to-equity ratio of 0.12.

Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $6.15 earnings per share for the quarter, beating the consensus estimate of $5.76 by $0.39. Jones Lang LaSalle had a net margin of 2.33% and a return on equity of 10.20%. The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same quarter in the prior year, the business earned $4.23 earnings per share. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, equities analysts forecast that Jones Lang LaSalle will post 16.45 earnings per share for the current year.

Hedge Funds Weigh In On Jones Lang LaSalle

Hedge funds have recently modified their holdings of the company. Private Trust Co. NA increased its position in shares of Jones Lang LaSalle by 112.0% during the fourth quarter. Private Trust Co. NA now owns 106 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 56 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Jones Lang LaSalle during the 3rd quarter valued at approximately $34,000. R Squared Ltd purchased a new stake in Jones Lang LaSalle in the fourth quarter worth $35,000. Principal Securities Inc. raised its stake in Jones Lang LaSalle by 166.7% in the 4th quarter. Principal Securities Inc. now owns 176 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 110 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Jones Lang LaSalle by 35.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 194 shares of the financial services provider’s stock valued at $49,000 after buying an additional 51 shares in the last quarter. Institutional investors 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.