Jones Lang LaSalle (NYSE:JLL) Hits New 52-Week High on Analyst Upgrade

Key Points

• Jones Lang LaSalle's share price reached a new 52-week high of $291.00 following an upgrade from Goldman Sachs, which raised their price target to $378.00 and maintained a buy rating.
• The company's recent earnings report revealed a beat on expectations with $3.30 earnings per share, surpassing the $3.20 consensus estimate, and a revenue of $6.25 billion.
• Analysts have mixed ratings for Jones Lang LaSalle, with six buy ratings, three hold ratings, and one strong buy rating, leading to an average rating of "Moderate Buy" and a target price of $316.14.

Jones Lang LaSalle Incorporated (NYSE:JLL - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday after The Goldman Sachs Group raised their price target on the stock from $338.00 to $378.00. The Goldman Sachs Group currently has a buy rating on the stock. Jones Lang LaSalle traded as high as $291.00 and last traded at $290.94, with a volume of 254513 shares trading hands. The stock had previously closed at $283.88.

A number of other analysts have also recently commented on JLL. Citigroup cut their price objective on 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. Keefe, Bruyette & Woods boosted their price objective on Jones Lang LaSalle from $280.00 to $297.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Citizens Jmp began coverage on Jones Lang LaSalle in a research note on Monday, July 21st. They set a "market perform" rating on the stock. UBS Group upped their price target on Jones Lang LaSalle from $305.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, Wall Street Zen raised Jones Lang LaSalle from a "hold" rating to a "buy" rating in a research note on Saturday. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $316.14.

Insider Buying and Selling

In other news, CEO Andrew W. Poppink sold 275 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $237.97, for a total transaction of $65,441.75. Following the sale, the chief executive officer owned 10,297 shares in the company, valued at $2,450,377.09. This trade represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.91% of the company's stock.

Institutional Trading of Jones Lang LaSalle

A number of hedge funds and other institutional investors have recently modified their holdings of JLL. Norges Bank bought a new stake in Jones Lang LaSalle in the second quarter valued at about $160,187,000. Swedbank AB boosted its stake in Jones Lang LaSalle by 115.0% in the second quarter. Swedbank AB now owns 938,149 shares of the financial services provider's stock valued at $239,960,000 after acquiring an additional 501,716 shares during the period. Select Equity Group L.P. boosted its stake in Jones Lang LaSalle by 50.7% in the first quarter. Select Equity Group L.P. now owns 1,062,069 shares of the financial services provider's stock valued at $263,298,000 after acquiring an additional 357,469 shares during the period. Allianz Asset Management GmbH boosted its stake in Jones Lang LaSalle by 194.0% in the first quarter. Allianz Asset Management GmbH now owns 395,337 shares of the financial services provider's stock valued at $98,008,000 after acquiring an additional 260,847 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Jones Lang LaSalle during the first quarter worth approximately $53,533,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

Jones Lang LaSalle Stock Performance

The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $254.76 and a 200-day moving average price of $247.96. The firm has a market capitalization of $13.84 billion, a price-to-earnings ratio of 25.17 and a beta of 1.38.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 10.63% and a net margin of 2.28%. The firm's revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.55 earnings per share. As a group, equities research analysts forecast that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current year.

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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