Barclays Forecasts Strong Price Appreciation for Jones Lang LaSalle (NYSE:JLL) Stock

Key Points

• Barclays raised its Jones Lang LaSalle price target to $401 from $368 while maintaining an “equal weight” rating, implying 8.26% upside from the prior close.
• Analyst sentiment is broadly positive: JLL has a “Moderate Buy” consensus rating and an average price target of $423.33, with targets ranging from $415 to $500.
• JLL recently exceeded quarterly expectations, reporting $5.26 in EPS versus the $4.56 consensus and $6.93 billion in revenue, up 10.8% year over year; shares were trading near $370.42.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) had its price target raised by stock analysts at Barclays from $368.00 to $401.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the financial services provider's stock. Barclays's target price would indicate a potential upside of 8.26% from the company's previous close.

Several other brokerages also recently weighed in on JLL. Zacks Research downgraded Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 23rd. Weiss Ratings downgraded Jones Lang LaSalle from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, May 28th. UBS Group upped their target price on shares of Jones Lang LaSalle from $425.00 to $445.00 and gave the stock a "buy" rating in a research note on Wednesday, April 22nd. Keefe, Bruyette & Woods lifted their price target on shares of Jones Lang LaSalle from $375.00 to $415.00 and gave the stock an "outperform" rating in a research note on Monday, August 3rd. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $500.00 price target on shares of Jones Lang LaSalle in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Jones Lang LaSalle has an average rating of "Moderate Buy" and a consensus price target of $423.33.

Jones Lang LaSalle Stock Down 1.2%

JLL stock traded down $4.58 during midday trading on Monday, hitting $370.42. The company's stock had a trading volume of 22,977 shares, compared to its average volume of 448,040. The firm has a 50-day simple moving average of $327.57 and a 200-day simple moving average of $318.09. The firm has a market capitalization of $17.04 billion, a P/E ratio of 17.76 and a beta of 1.24. 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 has a 52-week low of $259.83 and a 52-week high of $375.71.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.26 earnings per share for the quarter, topping analysts' consensus estimates of $4.56 by $0.70. The business had revenue of $6.93 billion for the quarter, compared to analyst estimates of $6.88 billion. Jones Lang LaSalle had a return on equity of 13.99% and a net margin of 3.64%.The company's revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.30 earnings per share. As a group, equities analysts forecast that Jones Lang LaSalle will post 24.18 EPS for the current year.

Insider Activity at Jones Lang LaSalle

In other news, Director Larry Quinlan sold 403 shares of the firm's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $295.14, for a total transaction of $118,941.42. Following the sale, the director owned 4,771 shares of the company's stock, valued at approximately $1,408,112.94. This trade represents a 7.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.91% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Assetmark Inc. raised its stake in shares of Jones Lang LaSalle by 15.8% in the 4th quarter. Assetmark Inc. now owns 220 shares of the financial services provider's stock valued at $74,000 after purchasing an additional 30 shares in the last quarter. Hilton Head Capital Partners LLC increased its holdings in Jones Lang LaSalle by 40.4% in the first quarter. Hilton Head Capital Partners LLC now owns 146 shares of the financial services provider's stock valued at $44,000 after buying an additional 42 shares during the last quarter. UMB Bank n.a. lifted its holdings in Jones Lang LaSalle by 10.6% during the 4th quarter. UMB Bank n.a. now owns 490 shares of the financial services provider's stock worth $165,000 after buying an additional 47 shares during the last quarter. Ballentine Partners LLC grew its position in shares of Jones Lang LaSalle by 5.3% in the 4th quarter. Ballentine Partners LLC now owns 951 shares of the financial services provider's stock worth $320,000 after acquiring an additional 48 shares in the last quarter. Finally, Root Financial Partners LLC increased its holdings in shares of Jones Lang LaSalle by 27.4% in the 1st quarter. Root Financial Partners LLC now owns 223 shares of the financial services provider's stock valued at $68,000 after acquiring an additional 48 shares during the last quarter. Institutional investors and hedge funds own 94.80% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source