Jones Lang LaSalle (JLL) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Jones Lang LaSalle (NYSE:JLL) from a hold rating to a buy rating in a report published on Monday. They currently have $170.00 target price on the financial services provider’s stock.
According to Zacks, “Shares of JLL have outperformed the industry it belongs to in the past three months. Further, the stock has seen the Zacks Consensus Estimates for 2018 earnings being revised upward in a month’s time. Notably, the company’s diversified product & services range is expected to enable the company to register balanced revenue growth across its operating markets. In fact, vast knowledge of real estate markets and a spate of strategic investment activities in a bid to capitalize on market consolidations are anticipated to drive long-term profitability. Its superior operating platform and market share expansion will aid JLL to achieve strong growth, as well as a decent cash level. However, unfavorable currency movements and a stiff competition from international, regional and local players are concerns.”
Several other research analysts have also weighed in on JLL. ValuEngine raised Jones Lang LaSalle from a hold rating to a buy rating in a research report on Friday, February 2nd. Barclays upped their target price on Jones Lang LaSalle from $150.00 to $170.00 and gave the stock an overweight rating in a research report on Tuesday, January 30th. JMP Securities lowered Jones Lang LaSalle from an outperform rating to a market perform rating in a research report on Wednesday, January 24th. William Blair reaffirmed an outperform rating on shares of Jones Lang LaSalle in a research report on Friday, February 2nd. Finally, Royal Bank of Canada lowered Jones Lang LaSalle from an outperform rating to a sector perform rating in a research report on Thursday, October 12th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Jones Lang LaSalle currently has a consensus rating of Buy and an average target price of $146.00.
Jones Lang LaSalle (NYSE:JLL) last issued its earnings results on Wednesday, February 7th. The financial services provider reported $4.92 earnings per share for the quarter, topping the consensus estimate of $4.22 by $0.70. Jones Lang LaSalle had a return on equity of 12.55% and a net margin of 4.52%. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period in the prior year, the firm posted $3.95 EPS. The business’s revenue was up 17.5% compared to the same quarter last year. sell-side analysts anticipate that Jones Lang LaSalle will post 8.57 earnings per share for the current year.
In other news, Director Martin H. Nesbitt sold 6,701 shares of the company’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $149.32, for a total transaction of $1,000,593.32. Following the completion of the sale, the director now owns 35 shares in the company, valued at approximately $5,226.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeff A. Jacobson sold 6,713 shares of the company’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $147.42, for a total value of $989,630.46. Following the sale, the chief executive officer now owns 4,489 shares of the company’s stock, valued at approximately $661,768.38. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.
A number of large investors have recently made changes to their positions in JLL. M&T Bank Corp bought a new stake in Jones Lang LaSalle during the 2nd quarter valued at approximately $206,000. Parametrica Management Ltd bought a new stake in Jones Lang LaSalle during the 3rd quarter valued at approximately $212,000. Clinton Group Inc. bought a new stake in Jones Lang LaSalle during the 2nd quarter valued at approximately $224,000. Magnetar Financial LLC bought a new stake in Jones Lang LaSalle during the 3rd quarter valued at approximately $233,000. Finally, Toronto Dominion Bank boosted its stake in Jones Lang LaSalle by 244.1% during the 3rd quarter. Toronto Dominion Bank now owns 1,913 shares of the financial services provider’s stock valued at $236,000 after purchasing an additional 1,357 shares during the period. Hedge funds and other institutional investors own 90.58% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This article was first reported by Watch List News and is the property of of Watch List News. If you are reading this article on another domain, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The correct version of this article can be read at https://www.watchlistnews.com/jones-lang-lasalle-jll-rating-increased-to-buy-at-zacks-investment-research/1851835.html.
About Jones Lang LaSalle
Jones Lang LaSalle Incorporated (JLL) is a financial and professional services company specializing in real estate. The Company operates through four business segments: Americas; Europe, Middle East and Africa (EMEA); Asia Pacific, and LaSalle. It offers integrated services on a local, regional and global basis to owner, occupier, investor and developer clients.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Jones Lang LaSalle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jones Lang LaSalle and related companies with MarketBeat.com's FREE daily email newsletter.