Jones Lang LaSalle (NYSE:JLL) Reaches New 52-Week High - Still a Buy?

Key Points

• Jones Lang LaSalle's stock recently hit a new 52-week high, reaching $317.52, reflecting strong performance and trading volume of over 17,000 shares.
• Analysts bullish on JLL: Several investment firms have upgraded their target prices, with JPMorgan raising it to $372.00 and Goldman Sachs to $378.00, indicating high confidence in the company's future growth.
• The company reported better-than-expected earnings, posting $3.30 per share against a consensus estimate of $3.20, with revenue up 11% year-over-year at $6.25 billion.

Jones Lang LaSalle Incorporated (NYSE:JLL - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $317.52 and last traded at $317.02, with a volume of 17072 shares traded. The stock had previously closed at $311.84.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. UBS Group upped their price target on shares of Jones Lang LaSalle from $305.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods upped their price objective on shares of Jones Lang LaSalle from $280.00 to $297.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. The Goldman Sachs Group upped their price objective on shares of Jones Lang LaSalle from $338.00 to $378.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Citigroup dropped their price target on shares of Jones Lang LaSalle from $275.00 to $240.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Finally, Citizens Jmp assumed coverage on shares of Jones Lang LaSalle in a research report on Monday, July 21st. They issued a "market perform" rating for the company. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $328.57.

Jones Lang LaSalle Trading Down 0.5%

The business's 50-day moving average price is $287.94 and its two-hundred day moving average price is $253.78. The company has a market capitalization of $15.08 billion, a P/E ratio of 27.36 and a beta of 1.41. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.35 and a quick ratio of 2.35.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $3.30 earnings per share for the quarter, topping analysts' consensus estimates of $3.20 by $0.10. The company had revenue of $6.25 billion for the quarter, compared to analysts' expectations of $6.17 billion. Jones Lang LaSalle had a net margin of 2.28% and a return on equity of 10.63%. The business's quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm posted $2.55 earnings per share. As a group, analysts forecast that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Chilton Capital Management LLC acquired a new position in shares of Jones Lang LaSalle during the 2nd quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Jones Lang LaSalle by 322.6% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 131 shares of the financial services provider's stock worth $34,000 after purchasing an additional 100 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in Jones Lang LaSalle in the 1st quarter valued at about $33,000. SVB Wealth LLC acquired a new position in Jones Lang LaSalle in the 1st quarter valued at about $38,000. Finally, Western Pacific Wealth Management LP acquired a new position in Jones Lang LaSalle in the 1st quarter valued at about $41,000. 94.80% of the stock is currently owned by institutional investors and hedge funds.

About Jones Lang LaSalle

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.