The Goldman Sachs Group Forecasts Strong Price Appreciation for Jones Lang LaSalle (NYSE:JLL) Stock

Jones Lang LaSalle (NYSE:JLL) had its price target boosted by equities researchers at The Goldman Sachs Group from $338.00 to $378.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target points to a potential upside of 28.64% from the stock’s current price.

A number of other brokerages also recently issued reports on JLL. Citigroup cut their price target on Jones Lang LaSalle from $275.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, May 28th. Keefe, Bruyette & Woods raised their price objective on Jones Lang LaSalle from $280.00 to $297.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. JMP Securities started coverage on shares of Jones Lang LaSalle in a report on Monday, July 21st. They issued a “market perform” rating for the company. UBS Group increased their price target on shares of Jones Lang LaSalle from $305.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Finally, Citizens Jmp started coverage on shares of Jones Lang LaSalle in a research report on Monday, July 21st. They issued a “market perform” rating on the stock. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $316.14.

Jones Lang LaSalle Stock Down 1.0%

NYSE:JLL opened at $293.85 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.35 and a quick ratio of 2.35. The firm has a market cap of $13.92 billion, a PE ratio of 25.27 and a beta of 1.38. The company has a 50-day moving average of $257.39 and a 200 day moving average of $248.39. Jones Lang LaSalle has a 1-year low of $194.36 and a 1-year high of $297.15.

Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.20 by $0.10. The firm had revenue of $6.25 billion during the quarter, compared to analysts’ expectations of $6.17 billion. Jones Lang LaSalle had a net margin of 2.28% and a return on equity of 10.63%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.55 EPS. As a group, research analysts anticipate that Jones Lang LaSalle will post 16.45 EPS for the current fiscal year.

Insider Activity

In related news, CEO Andrew W. Poppink sold 275 shares of Jones Lang LaSalle stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $237.97, for a total value 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 trade represents a 2.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.91% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Basswood Capital Management L.L.C. purchased a new stake in shares of Jones Lang LaSalle during the second quarter valued at $4,359,000. Lighthouse Investment Partners LLC lifted its position in Jones Lang LaSalle by 2.2% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 21,386 shares of the financial services provider’s stock worth $5,470,000 after acquiring an additional 454 shares during the period. MGB Wealth Management LLC grew its stake in Jones Lang LaSalle by 6.0% during the 2nd quarter. MGB Wealth Management LLC now owns 1,325 shares of the financial services provider’s stock valued at $339,000 after purchasing an additional 75 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Jones Lang LaSalle by 6.3% in the second quarter. Canada Pension Plan Investment Board now owns 81,200 shares of the financial services provider’s stock valued at $20,769,000 after purchasing an additional 4,800 shares during the period. Finally, FJ Capital Management LLC raised its stake in shares of Jones Lang LaSalle by 38.5% in the second quarter. FJ Capital Management LLC now owns 22,352 shares of the financial services provider’s stock worth $5,717,000 after purchasing an additional 6,214 shares during the last quarter. Hedge funds and other institutional investors 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.