Jones Lang LaSalle (NYSE:JLL) Sets New 1-Year High - Still a Buy?

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%.

Shares of 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 changing hands. The stock had previously closed at $307.12.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on JLL. Keefe, Bruyette & Woods boosted their target price on shares of Jones Lang LaSalle from $280.00 to $297.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Citizens Jmp began 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. boosted their target price on shares of Jones Lang LaSalle from $285.00 to $372.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. UBS Group boosted their target price on shares of Jones Lang LaSalle from $305.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, JMP Securities began coverage on shares of Jones Lang LaSalle in a research report on Monday, July 21st. They set a "market perform" rating for the company. One equities research 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $328.57.

Jones Lang LaSalle Stock Performance

The firm has a market cap of $14.74 billion, a P/E ratio of 26.76 and a beta of 1.41. The stock's 50 day moving average is $283.19 and its two-hundred day moving average is $252.29. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.35 and a quick ratio of 2.35.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last posted its 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. The business had revenue of $6.25 billion for 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%. The firm's revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.55 earnings per share. As a group, equities analysts predict that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current year.

Insiders Place Their Bets

In other Jones Lang LaSalle news, CEO Andrew W. Poppink sold 275 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $237.97, for a total transaction of $65,441.75. Following the sale, the chief executive officer directly owned 10,297 shares of the company's stock, valued at approximately $2,450,377.09. This represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.91% of the stock is currently owned by insiders.

Institutional Trading of Jones Lang LaSalle

Several large investors have recently added to or reduced their stakes in the company. EdgePoint Investment Group Inc. grew its stake in Jones Lang LaSalle by 21.0% during the second 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 last quarter. Select Equity Group L.P. lifted 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 purchasing an additional 357,469 shares in the last quarter. Invesco Ltd. lifted 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 purchasing an additional 17,336 shares in the last quarter. Swedbank AB lifted 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 purchasing an additional 501,716 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Jones Lang LaSalle during the second quarter worth approximately $160,187,000. 94.80% of the stock is 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.