Barclays Lowers Jones Lang LaSalle (NYSE:JLL) Price Target to $348.00

Key Points

• Barclays cut its price target on Jones Lang LaSalle from $355.00 to $348.00 and maintained an "equal weight" rating, with the new target implying roughly a 5.71% upside from the prior close.
• Other analysts are more bullish — UBS raised its target to $425 and the MarketBeat consensus is a "Moderate Buy" with an average price target of $362.
• JLL posted a strong quarter, beating estimates with $8.71 EPS (vs. $7.25 expected) and $7.61 billion in revenue (up 11.7% y/y), while insiders including the CEO have recently sold shares.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) had its price objective lowered by research analysts at Barclays from $355.00 to $348.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the financial services provider's stock. Barclays's price target indicates a potential upside of 5.71% from the company's previous close.

A number of other analysts have also weighed in on the stock. UBS Group upped their price target on shares of Jones Lang LaSalle from $410.00 to $425.00 and gave the stock a "buy" rating in a research note on Monday, February 23rd. Keefe, Bruyette & Woods reduced their price target on shares of Jones Lang LaSalle from $405.00 to $380.00 and set an "outperform" rating for the company in a research note on Tuesday, February 24th. Wall Street Zen raised shares of Jones Lang LaSalle from a "buy" rating to a "strong-buy" rating in a research note on Sunday, January 11th. Zacks Research raised shares of Jones Lang LaSalle from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 20th. Finally, Weiss Ratings raised shares of Jones Lang LaSalle from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $362.00.

Jones Lang LaSalle Stock Performance

Jones Lang LaSalle stock traded up $4.67 during midday trading on Tuesday, reaching $329.21. 35,347 shares of the stock traded hands, compared to its average volume of 517,016. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.10. The firm has a fifty day moving average price of $308.25 and a two-hundred day moving average price of $317.70. The firm has a market cap of $15.42 billion, a price-to-earnings ratio of 20.06 and a beta of 1.41. Jones Lang LaSalle has a fifty-two week low of $201.96 and a fifty-two week high of $363.06.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last posted its earnings results on Wednesday, February 18th. The financial services provider reported $8.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.25 by $1.46. Jones Lang LaSalle had a net margin of 3.03% and a return on equity of 12.50%. The firm had revenue of $7.61 billion during the quarter, compared to analyst estimates of $7.45 billion. During the same period in the previous year, the business posted $6.15 EPS. Jones Lang LaSalle's revenue was up 11.7% on a year-over-year basis. On average, equities research analysts forecast that Jones Lang LaSalle will post 16.45 earnings per share for the current year.

Insider Activity at Jones Lang LaSalle

In other news, CEO Richard Bloxam sold 5,440 shares of Jones Lang LaSalle stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $296.94, for a total value of $1,615,353.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Deborah H. Mcaneny sold 2,500 shares of the firm's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $300.50, for a total transaction of $751,250.00. Following the completion of the transaction, the director owned 14,985 shares of the company's stock, valued at approximately $4,502,992.50. The trade was a 14.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.91% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC boosted its holdings in shares of Jones Lang LaSalle by 93.1% in the fourth quarter. Hsbc Holdings PLC now owns 16,557 shares of the financial services provider's stock worth $5,583,000 after buying an additional 7,983 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in shares of Jones Lang LaSalle by 14.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,759 shares of the financial services provider's stock worth $928,000 after buying an additional 348 shares during the period. Advisortrust Partners LLC acquired a new position in shares of Jones Lang LaSalle in the fourth quarter worth about $346,000. Corient Private Wealth LLC boosted its holdings in shares of Jones Lang LaSalle by 14.9% in the fourth quarter. Corient Private Wealth LLC now owns 74,277 shares of the financial services provider's stock worth $24,992,000 after buying an additional 9,623 shares during the period. Finally, Midway Capital Research & Management acquired a new position in shares of Jones Lang LaSalle in the fourth quarter worth about $5,965,000. 94.80% of the stock is currently owned by institutional investors and hedge funds.

About Jones Lang LaSalle

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.

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