Jones Lang LaSalle (NYSE:JLL) Price Target Raised to $345.00 at Keefe, Bruyette & Woods

Key Points

• Jones Lang LaSalle's price target has been raised by Keefe, Bruyette & Woods from $317.00 to $345.00, indicating a potential upside of 20.04% from its previous close.
• JPMorgan Chase & Co. increased their price objective for the company from $285.00 to $372.00, sustaining an "overweight" rating on the stock.
• The company reported quarterly earnings of $3.30 per share, exceeding expectations and reflecting an 11% year-over-year revenue growth of $6.25 billion.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) had its price target hoisted by stock analysts at Keefe, Bruyette & Woods from $317.00 to $345.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' target price suggests a potential upside of 20.04% from the stock's previous close.

Other analysts have also recently issued reports about the stock. Weiss Ratings restated a "hold (c+)" rating on shares of Jones Lang LaSalle in a report on Wednesday. JMP Securities initiated coverage on shares of Jones Lang LaSalle in a research report on Monday, July 21st. They set a "market perform" rating for the company. JPMorgan Chase & Co. upped their price objective on shares of Jones Lang LaSalle from $285.00 to $372.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. Wall Street Zen upgraded shares of Jones Lang LaSalle from a "hold" rating to a "buy" rating in a research note on Sunday, August 31st. Finally, The Goldman Sachs Group increased their target price on Jones Lang LaSalle from $338.00 to $378.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Jones Lang LaSalle has an average rating of "Moderate Buy" and an average price target of $335.43.

Jones Lang LaSalle Price Performance

Shares of JLL traded up $3.68 during trading hours on Thursday, hitting $287.40. 133,692 shares of the company were exchanged, compared to its average volume of 400,417. The company has a market capitalization of $13.62 billion, a PE ratio of 24.71 and a beta of 1.39. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.35 and a quick ratio of 2.35. The firm has a fifty day simple moving average of $297.95 and a 200-day simple moving average of $258.09. Jones Lang LaSalle has a one year low of $194.36 and a one year high of $322.36.

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 earnings per share for the quarter, beating analysts' consensus estimates of $3.20 by $0.10. Jones Lang LaSalle had a return on equity of 10.63% and a net margin of 2.28%.The business had revenue of $6.25 billion during the quarter, compared to analyst estimates of $6.17 billion. During the same quarter last year, the company posted $2.55 EPS. Jones Lang LaSalle's revenue for the quarter was up 11.0% on a year-over-year basis. As a group, sell-side analysts predict that Jones Lang LaSalle will post 16.45 earnings per share for the current year.

Institutional Trading of Jones Lang LaSalle

Institutional investors and hedge funds have recently made changes to their positions in the business. EdgePoint Investment Group Inc. increased its stake in Jones Lang LaSalle by 21.0% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 2,221,528 shares of the financial services provider's stock worth $568,222,000 after buying an additional 386,184 shares during the period. Select Equity Group L.P. increased its position in shares of Jones Lang LaSalle by 50.7% during the first quarter. Select Equity Group L.P. now owns 1,062,069 shares of the financial services provider's stock worth $263,298,000 after acquiring an additional 357,469 shares during the period. Invesco Ltd. increased its position in shares of Jones Lang LaSalle by 1.8% during the first quarter. Invesco Ltd. now owns 961,959 shares of the financial services provider's stock worth $238,479,000 after acquiring an additional 17,336 shares during the period. Swedbank AB increased its position in shares of Jones Lang LaSalle by 115.0% during the second quarter. Swedbank AB now owns 938,149 shares of the financial services provider's stock worth $239,960,000 after acquiring an additional 501,716 shares during the period. Finally, Norges Bank purchased a new position in Jones Lang LaSalle during the 2nd quarter worth $160,187,000. 94.80% of the stock is currently owned by institutional investors.

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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