Jones Lang LaSalle (NYSE:JLL) Downgraded by StockNews.com to “Buy”

Jones Lang LaSalle (NYSE:JLL) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday.

A number of other analysts have also weighed in on the company. Raymond James upped their price objective on Jones Lang LaSalle from $246.00 to $268.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. Wolfe Research reissued a “peer perform” rating on shares of Jones Lang LaSalle in a report on Tuesday, April 9th. UBS Group increased their target price on Jones Lang LaSalle from $225.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Jefferies Financial Group began coverage on Jones Lang LaSalle in a report on Wednesday, April 10th. They issued a “buy” rating and a $246.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their target price on Jones Lang LaSalle from $215.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, June 21st. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $233.67.

Jones Lang LaSalle Trading Down 1.9 %

JLL traded down $4.49 during trading hours on Wednesday, reaching $229.50. The company’s stock had a trading volume of 360,676 shares, compared to its average volume of 286,929. Jones Lang LaSalle has a fifty-two week low of $119.46 and a fifty-two week high of $254.67. The stock has a market cap of $10.92 billion, a PE ratio of 36.90 and a beta of 1.38. The business’s 50-day moving average is $216.76 and its 200-day moving average is $197.08. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.35 and a quick ratio of 2.35.

Jones Lang LaSalle (NYSE:JLL) last announced its earnings results on Tuesday, August 6th. The financial services provider reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.25. The company had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.48 billion. Jones Lang LaSalle had a return on equity of 6.55% and a net margin of 1.42%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.50 earnings per share. As a group, equities research analysts predict that Jones Lang LaSalle will post 12.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in Jones Lang LaSalle during the second quarter worth about $113,000. Texas Permanent School Fund Corp raised its holdings in Jones Lang LaSalle by 7.2% during the second quarter. Texas Permanent School Fund Corp now owns 44,647 shares of the financial services provider’s stock worth $9,165,000 after purchasing an additional 3,012 shares in the last quarter. Arizona State Retirement System raised its holdings in Jones Lang LaSalle by 1.6% during the second quarter. Arizona State Retirement System now owns 13,282 shares of the financial services provider’s stock worth $2,727,000 after purchasing an additional 208 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Jones Lang LaSalle by 36.5% in the second quarter. Victory Capital Management Inc. now owns 13,722 shares of the financial services provider’s stock valued at $2,817,000 after buying an additional 3,666 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC purchased a new position in Jones Lang LaSalle in the second quarter valued at about $498,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

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.