Jones Lang LaSalle (NYSE:JLL) Cut to Buy at StockNews.com

StockNews.com downgraded shares of Jones Lang LaSalle (NYSE:JLL) from a strong-buy rating to a buy rating in a report released on Friday.

Several other equities research analysts also recently commented on JLL. Wolfe Research upgraded Jones Lang LaSalle from a “peer perform” rating to an “outperform” rating and set a $353.00 price objective for the company in a report on Monday, November 25th. Keefe, Bruyette & Woods raised Jones Lang LaSalle from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $292.00 to $325.00 in a research report on Tuesday, December 10th. Raymond James boosted their price objective on Jones Lang LaSalle from $317.00 to $320.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. boosted their price objective on Jones Lang LaSalle from $263.00 to $327.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Finally, The Goldman Sachs Group assumed coverage on Jones Lang LaSalle in a research report on Friday, December 6th. They issued a “buy” rating and a $352.00 price objective on the stock. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $309.00.

Jones Lang LaSalle Trading Up 4.1 %

NYSE JLL opened at $249.68 on Friday. The business has a 50 day simple moving average of $265.99 and a 200 day simple moving average of $264.60. Jones Lang LaSalle has a one year low of $171.45 and a one year high of $288.50. The stock has a market capitalization of $11.83 billion, a P/E ratio of 22.12 and a beta of 1.36. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.00 and a quick ratio of 2.29.

Jones Lang LaSalle (NYSE:JLL) last released its earnings results on Wednesday, February 19th. The financial services provider reported $6.15 EPS for the quarter, topping the consensus estimate of $5.76 by $0.39. Jones Lang LaSalle had a return on equity of 10.20% and a net margin of 2.33%. The business had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.65 billion. During the same quarter last year, the firm posted $4.23 earnings per share. The firm’s revenue was up 15.8% on a year-over-year basis. Research analysts expect that Jones Lang LaSalle will post 16.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. FMR LLC lifted its position in shares of Jones Lang LaSalle by 15.0% during the 3rd quarter. FMR LLC now owns 3,530,720 shares of the financial services provider’s stock valued at $952,624,000 after buying an additional 459,466 shares during the last quarter. EdgePoint Investment Group Inc. lifted its holdings in Jones Lang LaSalle by 5.7% during the 4th quarter. EdgePoint Investment Group Inc. now owns 1,639,526 shares of the financial services provider’s stock worth $415,030,000 after purchasing an additional 88,479 shares in the last quarter. State Street Corp lifted its holdings in Jones Lang LaSalle by 0.4% during the 3rd quarter. State Street Corp now owns 1,423,831 shares of the financial services provider’s stock worth $384,164,000 after purchasing an additional 6,304 shares in the last quarter. Invesco Ltd. lifted its holdings in Jones Lang LaSalle by 0.9% during the 4th quarter. Invesco Ltd. now owns 944,623 shares of the financial services provider’s stock worth $239,122,000 after purchasing an additional 8,274 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Jones Lang LaSalle by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 934,958 shares of the financial services provider’s stock worth $240,190,000 after purchasing an additional 41,331 shares in the last quarter. Hedge funds and other institutional investors own 94.80% of the company’s stock.

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.