Wall Street Zen Downgrades Jones Lang LaSalle (NYSE:JLL) to Hold

Key Points

• Jones Lang LaSalle has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen analysts.
• Goldman Sachs and UBS Group have increased their price targets for the stock, with Goldman Sachs raising it from $338.00 to $378.00.
• In recent earnings, Jones Lang LaSalle reported $3.30 earnings per share, beating consensus estimates and showing a year-over-year revenue increase of 11.0%.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

Several other analysts have also recently commented on the stock. Citizens Jmp initiated coverage on shares of Jones Lang LaSalle in a research note on Monday, July 21st. They set a "market perform" rating on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Jones Lang LaSalle from $280.00 to $297.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Citigroup cut their price objective on shares of Jones Lang LaSalle from $275.00 to $240.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. The Goldman Sachs Group increased their price objective on shares of Jones Lang LaSalle from $338.00 to $378.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Finally, UBS Group increased their price objective 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. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $328.57.

Jones Lang LaSalle Price Performance

Shares of JLL traded up $1.59 during mid-day trading on Friday, hitting $307.07. 158,938 shares of the company traded hands, compared to its average volume of 408,123. Jones Lang LaSalle has a one year low of $194.36 and a one year high of $308.61. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average of $267.42 and a 200 day moving average of $249.13. The stock has a market capitalization of $14.55 billion, a price-to-earnings ratio of 26.39 and a beta of 1.38.

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

Insiders Place Their Bets

In other Jones Lang LaSalle news, CEO Andrew W. Poppink sold 275 shares of the stock in a transaction on Friday, June 20th. The shares were sold at an average price of $237.97, for a total value of $65,441.75. Following the sale, the chief executive officer directly owned 10,297 shares in the company, valued at approximately $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 SEC, which is accessible through the SEC website. Company insiders own 0.91% of the company's stock.

Institutional Investors Weigh In On Jones Lang LaSalle

A number of hedge funds and other institutional investors have recently made changes to their positions in JLL. Chilton Capital Management LLC acquired a new stake in shares of Jones Lang LaSalle during the second quarter worth $26,000. Golden State Wealth Management LLC acquired a new stake in shares of Jones Lang LaSalle during the first quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Jones Lang LaSalle by 322.6% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 131 shares of the financial services provider's stock worth $34,000 after acquiring an additional 100 shares during the period. SVB Wealth LLC acquired a new stake in shares of Jones Lang LaSalle during the first quarter worth $38,000. Finally, Western Pacific Wealth Management LP acquired a new stake in shares of Jones Lang LaSalle during the first quarter worth $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.