Jones Lang LaSalle (NYSE:JLL) Price Target Raised to $415.00

Jones Lang LaSalle (NYSE:JLL) had its price target raised by equities researchers at Keefe, Bruyette & Woods from $375.00 to $415.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 15.24% from the company’s previous close.

JLL has been the topic of several other research reports. UBS Group lifted their price objective on Jones Lang LaSalle from $425.00 to $445.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Barclays lifted their price target on shares of Jones Lang LaSalle from $366.00 to $368.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 28th. Raymond James Financial restated a “strong-buy” rating and issued a $500.00 price objective on shares of Jones Lang LaSalle in a research note on Thursday. Zacks Research downgraded shares of Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Finally, Weiss Ratings lowered shares of Jones Lang LaSalle from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $417.83.

Jones Lang LaSalle Stock Performance

NYSE:JLL traded up $5.09 during trading hours on Monday, hitting $360.12. 128,322 shares of the company traded hands, compared to its average volume of 459,800. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $16.71 billion, a price-to-earnings ratio of 17.26 and a beta of 1.27. The firm has a 50-day moving average of $312.51 and a 200 day moving average of $317.09. Jones Lang LaSalle has a twelve month low of $259.83 and a twelve month high of $365.91.

Jones Lang LaSalle (NYSE:JLL) last released its earnings results on Thursday, July 30th. The financial services provider reported $5.26 earnings per share for the quarter, beating the consensus estimate of $4.56 by $0.70. The business had revenue of $6.93 billion during the quarter, compared to analysts’ expectations of $6.88 billion. Jones Lang LaSalle had a net margin of 3.64% and a return on equity of 13.99%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the company earned $3.30 earnings per share. On average, analysts forecast that Jones Lang LaSalle will post 22.86 EPS for the current year.

Insider Activity

In other news, Director Larry Quinlan sold 403 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $295.14, for a total value of $118,941.42. Following the transaction, the director directly owned 4,771 shares in the company, valued at $1,408,112.94. This trade represents a 7.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.91% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Jones Lang LaSalle

Institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC bought a new position in Jones Lang LaSalle during the 1st quarter worth approximately $546,000. Empowered Funds LLC boosted its position in shares of Jones Lang LaSalle by 203.1% during the first quarter. Empowered Funds LLC now owns 4,046 shares of the financial services provider’s stock worth $1,003,000 after purchasing an additional 2,711 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Jones Lang LaSalle by 33.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 499 shares of the financial services provider’s stock valued at $128,000 after buying an additional 126 shares in the last quarter. Cresset Asset Management LLC lifted its holdings in Jones Lang LaSalle by 28.4% during the second quarter. Cresset Asset Management LLC now owns 1,673 shares of the financial services provider’s stock worth $428,000 after acquiring an additional 370 shares in the last quarter. Finally, Frontier Capital Management Co. LLC bought a new stake in shares of Jones Lang LaSalle in the second quarter worth about $211,000. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Jones Lang LaSalle Company Profile

Jones Lang LaSalle Incorporated (NYSE: JLL) is a leading professional services firm specializing in real estate and investment management. The company provides a broad range of services including leasing, advisory, property and asset management, capital markets, project and development services, and valuation. Through its integrated platform, JLL serves corporate occupiers, institutional investors, real estate owners and developers, offering tailored solutions that span the entire real estate lifecycle.

Founded in 1783 in London as Jones Lang Wootton, the firm established a reputation for expertise in property management and brokerage.