Jones Lang LaSalle (NYSE:JLL) Hits New 12-Month High – Still a Buy?

Jones Lang LaSalle Incorporated (NYSE:JLL) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $369.95 and last traded at $367.6940, with a volume of 324233 shares traded. The stock had previously closed at $366.06.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Jones Lang LaSalle from $375.00 to $415.00 and gave the company an “outperform” rating in a report on Monday. Zacks Research downgraded shares of Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. UBS Group upped their price target on shares of Jones Lang LaSalle from $425.00 to $445.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Raymond James Financial reaffirmed a “strong-buy” rating and set a $500.00 price target on shares of Jones Lang LaSalle in a research report on Thursday, July 30th. Finally, Barclays boosted their price objective on Jones Lang LaSalle from $366.00 to $368.00 and gave the company an “equal weight” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $417.83.

Jones Lang LaSalle Price Performance

The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $16.74 billion, a price-to-earnings ratio of 17.43 and a beta of 1.25. The stock’s 50-day simple moving average is $318.76 and its two-hundred day simple moving average is $317.62.

Jones Lang LaSalle (NYSE:JLL) last announced its earnings results on Thursday, July 30th. The financial services provider reported $5.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.56 by $0.70. Jones Lang LaSalle had a net margin of 3.64% and a return on equity of 13.99%. The business had revenue of $6.93 billion for the quarter, compared to analyst estimates of $6.88 billion. During the same quarter last year, the business earned $3.30 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities research analysts predict that Jones Lang LaSalle Incorporated will post 24.18 earnings per share for the current year.

Insider Buying and Selling

In other Jones Lang LaSalle news, Director Larry Quinlan sold 402 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $301.73, for a total transaction of $121,295.46. Following the completion of the sale, the director directly owned 4,369 shares in the company, valued at approximately $1,318,258.37. The trade was a 8.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.91% of the company’s stock.

Institutional Trading of Jones Lang LaSalle

Large investors have recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new position in Jones Lang LaSalle in the 2nd quarter valued at $453,000. Bank of New York Mellon Corp purchased a new stake in shares of Jones Lang LaSalle during the second quarter worth $87,669,000. State of Wyoming acquired a new stake in shares of Jones Lang LaSalle in the second quarter valued at about $240,000. GSA Capital Partners LLP purchased a new position in shares of Jones Lang LaSalle in the second quarter worth about $378,000. Finally, Fiduciary Financial Group LLC acquired a new position in Jones Lang LaSalle during the second quarter worth about $301,000. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

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.