JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Jones Lang LaSalle (NYSE:JLL) Stock

Jones Lang LaSalle (NYSE:JLL) had its price target lifted by stock analysts at JPMorgan Chase & Co. from $263.00 to $327.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 21.82% from the stock’s previous close.

A number of other brokerages also recently weighed in on JLL. Keefe, Bruyette & Woods raised Jones Lang LaSalle from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $292.00 to $325.00 in a research note on Tuesday, December 10th. StockNews.com raised shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 13th. The Goldman Sachs Group assumed coverage on shares of Jones Lang LaSalle in a report on Friday, December 6th. They set a “buy” rating and a $352.00 price objective for the company. Finally, Wolfe Research upgraded shares of Jones Lang LaSalle from a “peer perform” rating to an “outperform” rating and set a $353.00 target price on the stock in a report on Monday, November 25th. Six research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $301.57.

Jones Lang LaSalle Price Performance

Shares of JLL opened at $268.43 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.29 and a current ratio of 2.29. The firm has a market cap of $12.74 billion, a PE ratio of 27.14 and a beta of 1.34. Jones Lang LaSalle has a twelve month low of $167.11 and a twelve month high of $288.50. The firm’s 50 day moving average price is $269.58 and its 200 day moving average price is $247.29.

Jones Lang LaSalle (NYSE:JLL) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.83. Jones Lang LaSalle had a net margin of 2.12% and a return on equity of 8.95%. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.62 billion. During the same quarter in the previous year, the business earned $2.01 EPS. Jones Lang LaSalle’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, research analysts expect that Jones Lang LaSalle will post 13.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC grew its position in Jones Lang LaSalle by 15.0% during the third quarter. FMR LLC now owns 3,530,720 shares of the financial services provider’s stock worth $952,624,000 after buying an additional 459,466 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Jones Lang LaSalle by 1.9% during 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 in the last quarter. State Street Corp raised its stake in shares of Jones Lang LaSalle by 0.4% in the third quarter. State Street Corp now owns 1,423,831 shares of the financial services provider’s stock valued at $384,164,000 after purchasing an additional 6,304 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Jones Lang LaSalle by 20.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,049,392 shares of the financial services provider’s stock worth $215,419,000 after purchasing an additional 181,246 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Jones Lang LaSalle by 6.3% during the third quarter. Wellington Management Group LLP now owns 899,305 shares of the financial services provider’s stock worth $242,641,000 after buying an additional 53,066 shares in the last quarter. 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.