Jones Lang LaSalle (NYSE:JLL) Reaches New 1-Year High - Here's Why

Key Points

• Jones Lang LaSalle reached a new 52-week high of $369.95, closing near $367.69 and up from its prior close of $366.06.
• The company reported a strong quarterly performance, with EPS of $5.26 beating estimates by $0.70 and revenue rising 10.8% year over year to $6.93 billion.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $417.83; recent targets range from $368 to $500.

Jones Lang LaSalle Incorporated (NYSE:JLL - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $369.95 and last traded at $367.6940, with a volume of 324233 shares changing hands. The stock had previously closed at $366.06.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on JLL shares. Barclays lifted their target price on Jones Lang LaSalle from $366.00 to $368.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 28th. Weiss Ratings lowered shares of Jones Lang LaSalle from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, May 28th. Keefe, Bruyette & Woods boosted their price objective on shares of Jones Lang LaSalle from $375.00 to $415.00 and gave the company an "outperform" rating in a report on Monday. Zacks Research lowered shares of Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 23rd. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $500.00 target price on shares of Jones Lang LaSalle in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Jones Lang LaSalle has an average rating of "Moderate Buy" and a consensus target price of $417.83.

Jones Lang LaSalle Stock Up 0.4%

The firm has a 50 day simple moving average of $315.56 and a two-hundred day simple moving average of $317.43. The stock has a market capitalization of $16.92 billion, a P/E ratio of 17.62 and a beta of 1.25. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.15.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.56 by $0.70. Jones Lang LaSalle had a return on equity of 13.99% and a net margin of 3.64%.The company had revenue of $6.93 billion for the quarter, compared to analyst estimates of $6.88 billion. During the same quarter last year, the company posted $3.30 EPS. The company's revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities research analysts expect that Jones Lang LaSalle Incorporated will post 24.18 earnings per share for the current year.

Insiders Place Their Bets

In other Jones Lang LaSalle news, Director Larry Quinlan sold 402 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $301.73, for a total value of $121,295.46. Following the sale, the director owned 4,369 shares in the company, valued at $1,318,258.37. This trade represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.91% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Jones Lang LaSalle

Several hedge funds have recently modified their holdings of the company. Sunbelt Securities Inc. bought a new stake in Jones Lang LaSalle during the 3rd quarter worth $25,000. International Assets Investment Management LLC bought a new position in Jones Lang LaSalle in the fourth quarter valued at about $29,000. Activest Wealth Management boosted its stake in shares of Jones Lang LaSalle by 1,720.0% during the fourth quarter. Activest Wealth Management now owns 91 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 86 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new stake in shares of Jones Lang LaSalle during the fourth quarter valued at about $35,000. Finally, Bayforest Capital Ltd bought a new stake in shares of Jones Lang LaSalle during the fourth quarter worth about $55,000. Institutional investors and hedge funds own 94.80% of the company's stock.

About Jones Lang LaSalle

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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