Citigroup Cuts Jones Lang LaSalle (NYSE:JLL) Price Target to $240.00

Jones Lang LaSalle (NYSE:JLL - Get Free Report) had its price objective cut by Citigroup from $275.00 to $240.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the financial services provider's stock. Citigroup's target price would suggest a potential upside of 8.61% from the stock's previous close.

Several other brokerages have also recently weighed in on JLL. UBS Group dropped their target price on Jones Lang LaSalle from $340.00 to $305.00 and set a "buy" rating for the company in a report on Friday, April 11th. Wall Street Zen lowered Jones Lang LaSalle from a "strong-buy" rating to a "buy" rating in a report on Tuesday, May 13th. Keefe, Bruyette & Woods dropped their price target on Jones Lang LaSalle from $325.00 to $280.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Finally, JPMorgan Chase & Co. lowered their target price on Jones Lang LaSalle from $327.00 to $285.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $305.00.

Jones Lang LaSalle Stock Down 0.7%

NYSE:JLL traded down $1.48 during trading hours on Wednesday, reaching $220.98. 55,837 shares of the stock were exchanged, compared to its average volume of 327,211. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.00 and a quick ratio of 2.29. The stock has a market cap of $10.49 billion, a PE ratio of 19.56 and a beta of 1.33. The firm has a 50 day moving average of $227.89 and a 200 day moving average of $252.22. Jones Lang LaSalle has a twelve month low of $192.94 and a twelve month high of $288.50.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.29. The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.65 billion. Jones Lang LaSalle had a return on equity of 10.20% and a net margin of 2.33%. The business's revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the firm posted $1.78 earnings per share. On average, equities analysts expect that Jones Lang LaSalle will post 16.45 earnings per share for the current year.

Institutional Trading of Jones Lang LaSalle

A number of hedge funds have recently modified their holdings of the stock. First Citizens Bank & Trust Co. purchased a new position in Jones Lang LaSalle in the fourth quarter valued at $218,000. Blue Trust Inc. raised its position in shares of Jones Lang LaSalle by 27.5% in the 4th quarter. Blue Trust Inc. now owns 1,526 shares of the financial services provider's stock worth $412,000 after buying an additional 329 shares during the period. Pacer Advisors Inc. grew its stake in shares of Jones Lang LaSalle by 26.8% during the fourth quarter. Pacer Advisors Inc. now owns 8,818 shares of the financial services provider's stock valued at $2,232,000 after acquiring an additional 1,866 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Jones Lang LaSalle during the fourth quarter valued at about $35,000. Finally, Hunter Associates Investment Management LLC grew its stake in shares of Jones Lang LaSalle by 18.3% during the fourth quarter. Hunter Associates Investment Management LLC now owns 12,859 shares of the financial services provider's stock valued at $3,274,000 after acquiring an additional 1,986 shares in the last quarter. Hedge funds and other institutional investors own 94.80% of the company's stock.

Jones Lang LaSalle Company Profile

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.

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