Jones Lang LaSalle (NYSE:JLL) Downgraded to Hold Rating by Zacks Research

Key Points

• Zacks Research downgraded Jones Lang LaSalle (NYSE:JLL) from “strong-buy” to “hold,” adding to a mixed analyst picture around the stock.
• Despite the downgrade, the broader analyst consensus remains Moderate Buy, with five Buy ratings, two Hold ratings, and an average target price of $394.
• JLL recently posted better-than-expected quarterly results, earning $3.43 per share versus $3.01 expected and generating $6.39 billion in revenue, while shares opened at $325.19 on Thursday.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. Weiss Ratings cut Jones Lang LaSalle from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, May 28th. Barclays lifted their price target on Jones Lang LaSalle from $348.00 to $366.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 13th. Finally, UBS Group increased their price objective on Jones Lang LaSalle from $425.00 to $445.00 and gave the company a "buy" rating in a research report on Wednesday, April 22nd. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $394.00.

Jones Lang LaSalle Price Performance

JLL stock opened at $325.19 on Thursday. The firm has a 50 day simple moving average of $306.87 and a two-hundred day simple moving average of $317.42. The stock has a market cap of $15.09 billion, a PE ratio of 17.48 and a beta of 1.27. Jones Lang LaSalle has a one year low of $258.19 and a one year high of $363.06. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.35 and a quick ratio of 2.35.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $3.43 earnings per share for the quarter, beating the consensus estimate of $3.01 by $0.42. Jones Lang LaSalle had a net margin of 3.35% and a return on equity of 13.01%. The firm had revenue of $6.39 billion for the quarter, compared to analysts' expectations of $6 billion. During the same quarter last year, the company posted $2.31 EPS. The business's quarterly revenue was up 11.1% on a year-over-year basis. On average, analysts predict that Jones Lang LaSalle will post 22.85 EPS for the current fiscal year.

Insider Buying and Selling

In other Jones Lang LaSalle news, Director Larry Quinlan sold 403 shares of the business's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $295.14, for a total value of $118,941.42. Following the completion of the sale, the director directly owned 4,771 shares of the company's stock, valued at $1,408,112.94. The trade was a 7.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.91% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of JLL. M&T Bank Corp boosted its holdings in Jones Lang LaSalle by 184,969.0% during the 4th quarter. M&T Bank Corp now owns 3,864,241 shares of the financial services provider's stock valued at $1,300,201,000 after acquiring an additional 3,862,153 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Jones Lang LaSalle by 17.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,180,514 shares of the financial services provider's stock worth $397,209,000 after purchasing an additional 178,677 shares during the period. Swedbank AB lifted its position in Jones Lang LaSalle by 0.5% in the fourth quarter. Swedbank AB now owns 993,742 shares of the financial services provider's stock valued at $334,364,000 after purchasing an additional 4,543 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Jones Lang LaSalle by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 990,836 shares of the financial services provider's stock valued at $333,451,000 after purchasing an additional 15,995 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Jones Lang LaSalle by 426.7% during the fourth quarter. AQR Capital Management LLC now owns 899,625 shares of the financial services provider's stock valued at $302,697,000 after purchasing an additional 728,824 shares during the period. Hedge funds and other institutional investors 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.

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