Jones Lang LaSalle (NYSE:JLL) Price Target Cut to $385.00 by Analysts at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods lowered Jones Lang LaSalle’s price target to $385 from $415 while maintaining an “outperform” rating, implying 28.27% upside from the prior close.
• Analyst sentiment remains favorable overall, with JLL carrying a “Moderate Buy” consensus rating and an average price target of $427.60.
• JLL reported strong quarterly results, including $5.26 in EPS versus the $4.56 estimate and $6.93 billion in revenue, up 10.8% year over year; its shares later traded at $300.16.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) had its target price decreased by Keefe, Bruyette & Woods from $415.00 to $385.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 28.27% from the company's previous close.

Several other equities analysts have also recently commented on the company. Citigroup reaffirmed a "market perform" rating on shares of Jones Lang LaSalle in a report on Thursday, September 17th. Zacks Research cut shares of Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 23rd. Weiss Ratings raised Jones Lang LaSalle from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 18th. Raymond James Financial restated a "strong-buy" rating and issued a $500.00 target price on shares of Jones Lang LaSalle in a research note on Thursday, July 30th. Finally, Barclays raised their price objective on shares of Jones Lang LaSalle from $368.00 to $401.00 and gave the stock an "equal weight" rating in a report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $427.60.

Jones Lang LaSalle Stock Performance

JLL stock traded down $2.98 during mid-day trading on Friday, reaching $300.16. 131,899 shares of the stock traded hands, compared to its average volume of 435,067. The business has a 50-day moving average of $349.60 and a two-hundred day moving average of $326.35. Jones Lang LaSalle has a 52 week low of $259.83 and a 52 week high of $393.84. The firm has a market capitalization of $13.76 billion, a PE ratio of 14.38 and a beta of 1.30. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.15.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.26 EPS for the quarter, topping the consensus estimate of $4.56 by $0.70. Jones Lang LaSalle had a return on equity of 13.99% and a net margin of 3.64%.The company had revenue of $6.93 billion for the quarter, compared to the consensus estimate of $6.88 billion. During the same period in the previous year, the business posted $3.30 EPS. The company's revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities analysts predict that Jones Lang LaSalle will post 25.18 EPS for the current fiscal year.

Insider Buying and Selling at Jones Lang LaSalle

In related news, CEO Christian Ulbrich sold 2,000 shares of the firm's stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $385.53, for a total value of $771,060.00. Following the completion of the sale, the chief executive officer directly owned 138,418 shares in the company, valued at approximately $53,364,291.54. This trade represents a 1.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 6,000 shares of company stock worth $2,271,060. 0.91% of the stock is owned by insiders.

Institutional Investors Weigh In On Jones Lang LaSalle

A number of hedge funds and other institutional investors have recently made changes to their positions in JLL. Deutsche Bank AG bought a new position in Jones Lang LaSalle in the 2nd quarter valued at approximately $6,504,000. Tidal Investments LLC raised its holdings in Jones Lang LaSalle by 47.9% in the 2nd quarter. Tidal Investments LLC now owns 78,419 shares of the financial services provider's stock valued at $24,306,000 after buying an additional 25,413 shares during the last quarter. Moran Wealth Management LLC bought a new position in shares of Jones Lang LaSalle during the first quarter valued at $4,405,000. Principal Financial Group Inc. raised its position in Jones Lang LaSalle by 279.6% during the 1st quarter. Principal Financial Group Inc. now owns 429,418 shares of the financial services provider's stock worth $130,683,000 after purchasing an additional 316,299 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in shares of Jones Lang LaSalle by 36.3% in the 1st quarter. Lazard Asset Management LLC now owns 11,087 shares of the financial services provider's stock valued at $3,374,000 after buying an additional 2,955 shares during the last quarter. 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 global commercial real estate services and investment management company headquartered in Chicago, Illinois. The company provides real estate expertise to corporate, institutional and private clients across office, industrial, retail, residential, hotel and other property sectors.

JLL's services include leasing, property and facilities management, capital markets advisory, investment sales, valuation, development and project management, workplace consulting, and strategic real estate advice.

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