Jones Lang LaSalle (NYSE:JLL) Upgraded to Strong-Buy at StockNews.com

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

A number of other research firms have also issued reports on JLL. JPMorgan Chase & Co. increased their price target on shares of Jones Lang LaSalle from $263.00 to $327.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Wolfe Research raised shares of Jones Lang LaSalle from a “peer perform” rating to an “outperform” rating and set a $353.00 price target for the company in a research report on Monday, November 25th. Keefe, Bruyette & Woods raised shares of Jones Lang LaSalle from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $292.00 to $325.00 in a research report on Tuesday, December 10th. Raymond James increased their price target on shares of 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. Finally, The Goldman Sachs Group assumed coverage on shares of Jones Lang LaSalle in a research report on Friday, December 6th. They issued a “buy” rating and a $352.00 price target for the company. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $309.00.

Jones Lang LaSalle Stock Performance

Shares of JLL opened at $250.52 on Friday. Jones Lang LaSalle has a one year low of $171.45 and a one year high of $288.50. The company has a 50-day moving average of $266.39 and a two-hundred day moving average of $264.47. The stock has a market cap of $11.87 billion, a price-to-earnings ratio of 22.19 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 announced 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 net margin of 2.33% and a return on equity of 10.20%. The company had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.65 billion. During the same period last year, the company posted $4.23 earnings per share. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, equities research analysts expect that Jones Lang LaSalle will post 16.45 earnings per share for the current year.

Hedge Funds Weigh In On Jones Lang LaSalle

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JLL. Norges Bank acquired a new position in Jones Lang LaSalle during the fourth quarter valued at approximately $149,468,000. FMR LLC grew its holdings in Jones Lang LaSalle by 15.0% during the third quarter. FMR LLC now owns 3,530,720 shares of the financial services provider’s stock valued at $952,624,000 after purchasing an additional 459,466 shares during the last quarter. SG Americas Securities LLC grew its holdings in Jones Lang LaSalle by 7,967.8% during the fourth quarter. SG Americas Securities LLC now owns 279,065 shares of the financial services provider’s stock valued at $70,643,000 after purchasing an additional 275,606 shares during the last quarter. Marshall Wace LLP grew its holdings in Jones Lang LaSalle by 134.5% during the fourth quarter. Marshall Wace LLP now owns 373,207 shares of the financial services provider’s stock valued at $94,474,000 after purchasing an additional 214,087 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Jones Lang LaSalle by 146.2% during the fourth quarter. Millennium Management LLC now owns 335,451 shares of the financial services provider’s stock valued at $84,916,000 after purchasing an additional 199,197 shares during the last quarter. Institutional investors and hedge funds 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.