Jones Lang LaSalle (NYSE:JLL) Hits New 52-Week High Following Analyst Upgrade

Shares of Jones Lang LaSalle Incorporated (NYSE:JLL) reached a new 52-week high on Wednesday after UBS Group raised their price target on the stock from $360.00 to $410.00. UBS Group currently has a buy rating on the stock. Jones Lang LaSalle traded as high as $362.90 and last traded at $357.3220, with a volume of 138922 shares. The stock had previously closed at $356.03.

Several other research firms have also recently issued reports on JLL. Wall Street Zen upgraded shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 11th. Barclays assumed coverage on shares of Jones Lang LaSalle in a research report on Tuesday, December 2nd. They set an “equal weight” rating and a $351.00 price objective on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Jones Lang LaSalle from $390.00 to $405.00 and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Jones Lang LaSalle in a report on Thursday, January 22nd. Finally, The Goldman Sachs Group lifted their price objective on Jones Lang LaSalle from $361.00 to $407.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $364.17.

Insider Activity

In related news, CEO Christian Ulbrich sold 96 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $332.18, for a total value of $31,889.28. Following the transaction, the chief executive officer owned 114,685 shares of the company’s stock, valued at $38,096,063.30. This trade represents a 0.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 20,000 shares of company stock worth $6,609,091 over the last ninety days. 0.91% of the stock is currently owned by insiders.

Institutional Trading of Jones Lang LaSalle

Hedge funds have recently bought and sold shares of the stock. Sunbelt Securities Inc. purchased a new position in shares of Jones Lang LaSalle in the 3rd quarter worth approximately $25,000. Chilton Capital Management LLC purchased a new position in shares of Jones Lang LaSalle during the second quarter worth $26,000. Caldwell Trust Co purchased a new position in shares of Jones Lang LaSalle during the 2nd quarter valued at about $38,000. Quent Capital LLC acquired a new position in Jones Lang LaSalle in the third quarter valued at approximately $41,000. Finally, Root Financial Partners LLC acquired a new position in shares of Jones Lang LaSalle in the third quarter worth about $44,000. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Jones Lang LaSalle Trading Up 0.5%

The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.31 and a current ratio of 2.31. The stock has a market cap of $16.90 billion, a PE ratio of 27.47 and a beta of 1.42. The company has a 50 day moving average of $339.90 and a two-hundred day moving average of $309.83.

Jones Lang LaSalle (NYSE:JLL) last announced its earnings results on Wednesday, November 5th. The financial services provider reported $4.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.24 by $0.26. The firm had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.49 billion. Jones Lang LaSalle had a return on equity of 11.10% and a net margin of 2.49%.The business’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.50 EPS. Sell-side analysts anticipate that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current fiscal year.

About Jones Lang LaSalle

Jones Lang LaSalle Incorporated (NYSE: JLL) is a leading professional services firm specializing in real estate and investment management. The company provides a broad range of services including leasing, advisory, property and asset management, capital markets, project and development services, and valuation. Through its integrated platform, JLL serves corporate occupiers, institutional investors, real estate owners and developers, offering tailored solutions that span the entire real estate lifecycle.

Founded in 1783 in London as Jones Lang Wootton, the firm established a reputation for expertise in property management and brokerage.