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

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

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

Jones Lang LaSalle Stock Performance

NYSE JLL opened at $249.68 on Friday. The company’s 50 day moving average is $266.07 and its 200-day moving average is $264.46. Jones Lang LaSalle has a 12-month low of $171.45 and a 12-month high of $288.50. The company has a quick ratio of 2.29, a current ratio of 2.00 and a debt-to-equity ratio of 0.12. The firm has a market cap of $11.83 billion, a P/E ratio of 22.12 and a beta of 1.36.

Jones Lang LaSalle (NYSE:JLL) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $6.15 earnings per share (EPS) 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 company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same quarter in the previous year, the firm posted $4.23 earnings per share. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. Sell-side analysts predict that Jones Lang LaSalle will post 16.45 earnings per share for the current year.

Hedge Funds Weigh In On Jones Lang LaSalle

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Integrated Advisors Network LLC grew its stake in Jones Lang LaSalle by 8.1% in the 4th quarter. Integrated Advisors Network LLC now owns 2,347 shares of the financial services provider’s stock worth $594,000 after buying an additional 176 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Jones Lang LaSalle by 4.6% in the 4th quarter. Mackenzie Financial Corp now owns 1,545 shares of the financial services provider’s stock valued at $391,000 after purchasing an additional 68 shares in the last quarter. Forum Financial Management LP boosted its stake in shares of Jones Lang LaSalle by 28.1% in the 4th quarter. Forum Financial Management LP now owns 1,556 shares of the financial services provider’s stock valued at $394,000 after purchasing an additional 341 shares in the last quarter. University of Texas Texas AM Investment Management Co. boosted its stake in shares of Jones Lang LaSalle by 9.6% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 16,967 shares of the financial services provider’s stock valued at $4,295,000 after purchasing an additional 1,482 shares in the last quarter. Finally, CSS LLC IL boosted its stake in shares of Jones Lang LaSalle by 6.9% in the 4th quarter. CSS LLC IL now owns 2,780 shares of the financial services provider’s stock valued at $704,000 after purchasing an additional 180 shares in the last quarter. Hedge funds and other 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.