Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Jones Lang LaSalle (NYSE:JLL) Stock

Jones Lang LaSalle (NYSE:JLL) had its target price hoisted by analysts at Keefe, Bruyette & Woods from $280.00 to $292.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 8.63% from the stock’s current price.

Several other research analysts also recently issued reports on JLL. StockNews.com upgraded shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 13th. Raymond James upped their price objective on Jones Lang LaSalle from $246.00 to $268.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 25th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Jones Lang LaSalle currently has an average rating of “Buy” and a consensus price target of $255.20.

Jones Lang LaSalle Stock Down 1.6 %

Shares of JLL stock traded down $4.40 during trading hours on Tuesday, hitting $268.80. 73,832 shares of the company’s stock traded hands, compared to its average volume of 286,233. The company has a quick ratio of 2.58, a current ratio of 2.29 and a debt-to-equity ratio of 0.16. The stock has a market cap of $12.75 billion, a price-to-earnings ratio of 27.19 and a beta of 1.37. The stock’s fifty day simple moving average is $263.35 and its two-hundred day simple moving average is $233.24. Jones Lang LaSalle has a 12-month low of $136.83 and a 12-month high of $288.50.

Jones Lang LaSalle (NYSE:JLL) last released its earnings results on Wednesday, November 6th. The financial services provider reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.83. The firm had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.62 billion. Jones Lang LaSalle had a return on equity of 8.95% and a net margin of 2.12%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.01 earnings per share. On average, analysts expect that Jones Lang LaSalle will post 12.99 EPS for the current year.

Hedge Funds Weigh In On Jones Lang LaSalle

Several hedge funds and other institutional investors have recently modified their holdings of the company. EdgePoint Investment Group Inc. boosted its holdings in shares of Jones Lang LaSalle by 27.3% in the first quarter. EdgePoint Investment Group Inc. now owns 2,072,046 shares of the financial services provider’s stock worth $404,235,000 after buying an additional 443,992 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Jones Lang LaSalle by 1.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,472,703 shares of the financial services provider’s stock worth $302,318,000 after purchasing an additional 26,814 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Jones Lang LaSalle by 20.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,049,392 shares of the financial services provider’s stock valued at $215,419,000 after purchasing an additional 181,246 shares in the last quarter. Boston Trust Walden Corp grew its holdings in Jones Lang LaSalle by 1.2% during the second quarter. Boston Trust Walden Corp now owns 672,994 shares of the financial services provider’s stock valued at $138,152,000 after purchasing an additional 7,698 shares during the period. Finally, Swedbank AB bought a new position in shares of Jones Lang LaSalle in the first quarter worth about $97,018,000. 94.80% of the stock is owned by 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.