The Goldman Sachs Group Raises Jones Lang LaSalle (NYSE:JLL) Price Target to $378.00

Key Points

• Goldman Sachs raised its price target for Jones Lang LaSalle (JLL) from $338.00 to $378.00, suggesting a potential upside of 31.81% from the current price.
• A consensus rating of "Moderate Buy" has been established among analysts, with six analysts issuing buy ratings and one a strong buy rating, while a recent earnings report exceeded expectations.
• Jones Lang LaSalle's stock saw a modest increase to $286.78 on Wednesday, with significant share turnover, reflecting growing investor interest.

Jones Lang LaSalle (NYSE:JLL - Free Report) had its target price boosted by The Goldman Sachs Group from $338.00 to $378.00 in a research report released on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the financial services provider's stock.

Several other brokerages have also commented on JLL. Citizens Jmp assumed coverage on shares of Jones Lang LaSalle in a research report on Monday, July 21st. They set a "market perform" rating on the stock. 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. 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. Wall Street Zen upgraded shares of Jones Lang LaSalle from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, JMP Securities assumed coverage on shares of Jones Lang LaSalle in a research report on Monday, July 21st. They set a "market perform" rating on the stock. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $316.14.

Jones Lang LaSalle Stock Performance

NYSE:JLL traded up $1.08 during midday trading on Wednesday, reaching $294.71. The stock had a trading volume of 377,426 shares, compared to its average volume of 461,633. The firm has a fifty day simple moving average of $258.67 and a two-hundred day simple moving average of $248.25. Jones Lang LaSalle has a 12-month low of $194.36 and a 12-month high of $298.39. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.16. The stock has a market cap of $13.96 billion, a P/E ratio of 25.34 and a beta of 1.38.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $6.25 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm posted $2.55 EPS. On average, equities analysts expect that Jones Lang LaSalle will post 16.45 EPS for the current year.

Insider Activity at Jones Lang LaSalle

In related news, CEO Andrew W. Poppink sold 275 shares of the business's stock in a transaction dated 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 $2,450,377.09. The trade was a 2.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.91% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in JLL. Chilton Capital Management LLC acquired a new position in Jones Lang LaSalle in the 2nd quarter valued at about $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. increased its stake in Jones Lang LaSalle by 322.6% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 131 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 100 shares during the last quarter. SVB Wealth LLC purchased a new position in Jones Lang LaSalle during the first quarter worth about $38,000. Finally, Western Pacific Wealth Management LP purchased a new position in Jones Lang LaSalle during the first quarter worth about $41,000. Institutional investors and hedge funds 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.