Wall Street Zen Downgrades Jones Lang LaSalle (NYSE:JLL) to Hold

Jones Lang LaSalle (NYSE:JLL) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts have also issued reports on JLL. JPMorgan Chase & Co. dropped their target price on shares of Jones Lang LaSalle from $327.00 to $285.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Citigroup lowered their price objective on shares of Jones Lang LaSalle from $275.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, May 28th. Keefe, Bruyette & Woods lowered their price objective on shares of Jones Lang LaSalle from $325.00 to $280.00 and set an “outperform” rating for the company in a report on Thursday, April 17th. Finally, UBS Group boosted their price objective on shares of Jones Lang LaSalle from $305.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $310.00.

Jones Lang LaSalle Price Performance

Shares of NYSE:JLL opened at $257.40 on Friday. The company has a 50 day moving average of $237.75 and a 200 day moving average of $246.44. The stock has a market cap of $12.22 billion, a P/E ratio of 23.27 and a beta of 1.34. Jones Lang LaSalle has a 12 month low of $194.36 and a 12 month high of $288.50. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.17.

Jones Lang LaSalle (NYSE:JLL) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.29. Jones Lang LaSalle had a net margin of 2.23% and a return on equity of 10.37%. The business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same period in the previous year, the business posted $1.78 earnings per share. Jones Lang LaSalle’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, sell-side analysts forecast that Jones Lang LaSalle will post 16.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Andrew W. Poppink sold 275 shares of the company’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $237.97, for a total transaction of $65,441.75. Following the completion of the sale, the chief executive officer directly owned 10,297 shares in the company, valued at $2,450,377.09. This represents a 2.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.91% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. purchased a new position in Jones Lang LaSalle during the 4th quarter valued at $413,000. New Age Alpha Advisors LLC purchased a new position in Jones Lang LaSalle during the 4th quarter valued at $7,099,000. Janney Montgomery Scott LLC increased its position in Jones Lang LaSalle by 34.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 8,779 shares of the financial services provider’s stock valued at $2,176,000 after purchasing an additional 2,252 shares during the period. Truist Financial Corp increased its position in Jones Lang LaSalle by 13.2% during the 1st quarter. Truist Financial Corp now owns 206,987 shares of the financial services provider’s stock valued at $51,314,000 after purchasing an additional 24,159 shares during the period. Finally, Cetera Investment Advisers increased its position in Jones Lang LaSalle by 24.5% during the 4th quarter. Cetera Investment Advisers now owns 7,521 shares of the financial services provider’s stock valued at $1,904,000 after purchasing an additional 1,479 shares during the period. 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.