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

Key Points

• Jones Lang LaSalle reached a new 52-week high of $316.68, reflecting a significant increase from its previous close of $307.12.
• Analysts have upgraded their ratings for the stock, with Goldman Sachs raising the price target to $378.00 and providing a "buy" rating.
• The company's quarterly earnings report exceeded expectations, with an EPS of $3.30, surpassing the consensus estimate of $3.20, and a year-over-year revenue increase of 11.0%.

Jones Lang LaSalle Incorporated (NYSE:JLL - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $316.68 and last traded at $315.81, with a volume of 73417 shares. The stock had previously closed at $307.12.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on JLL shares. Keefe, Bruyette & Woods upped their price objective on shares of Jones Lang LaSalle from $280.00 to $297.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Citizens Jmp initiated coverage on shares of Jones Lang LaSalle in a report on Monday, July 21st. They set a "market perform" rating for the company. The Goldman Sachs Group raised their price objective on shares of Jones Lang LaSalle from $338.00 to $378.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Wall Street Zen raised shares of Jones Lang LaSalle from a "hold" rating to a "buy" rating in a report on Sunday, August 31st. Finally, Citigroup dropped their target price 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. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $328.57.

Jones Lang LaSalle Stock Up 2.0%

The firm's 50-day simple moving average is $279.98 and its two-hundred day simple moving average is $251.56. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.35. The stock has a market cap of $14.85 billion, a price-to-earnings ratio of 26.94 and a beta of 1.41.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $3.30 EPS for the quarter, topping the consensus estimate of $3.20 by $0.10. The company had revenue of $6.25 billion during 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%. Jones Lang LaSalle's revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.55 EPS. On average, sell-side analysts expect that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current fiscal year.

Insider Activity at Jones Lang LaSalle

In other news, CEO Andrew W. Poppink sold 275 shares of the business's 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 owned 10,297 shares of the company's stock, valued at $2,450,377.09. The trade was a 2.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.91% of the stock is currently owned by corporate insiders.

Institutional Trading of Jones Lang LaSalle

Institutional investors have recently made changes to their positions in the business. Chilton Capital Management LLC bought a new stake in shares of Jones Lang LaSalle in the second quarter worth $26,000. Golden State Wealth Management LLC acquired a new position in Jones Lang LaSalle during the first quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in 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 buying an additional 100 shares during the last quarter. SVB Wealth LLC acquired a new position in Jones Lang LaSalle during the first quarter worth $38,000. Finally, Western Pacific Wealth Management LP acquired a new position in Jones Lang LaSalle during the first quarter worth $41,000. Institutional investors own 94.80% of the company's stock.

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.

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