The Goldman Sachs Group Initiates Coverage on Jones Lang LaSalle (NYSE:JLL)

Stock analysts at The Goldman Sachs Group started coverage on shares of Jones Lang LaSalle (NYSE:JLL) in a research note issued on Friday, Marketbeat.com reports. The firm set a “buy” rating and a $352.00 price target on the financial services provider’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 26.91% from the stock’s current price.

JLL has been the topic of a number of other reports. Wolfe Research raised shares of Jones Lang LaSalle from a “peer perform” rating to an “outperform” rating and set a $353.00 price target on the stock in a report on Monday, November 25th. StockNews.com upgraded shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 13th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Jones Lang LaSalle from $280.00 to $292.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $283.00.

Jones Lang LaSalle Stock Performance

Shares of NYSE JLL opened at $277.37 on Friday. The company’s fifty day moving average price is $268.56 and its 200 day moving average price is $243.35. Jones Lang LaSalle has a 1 year low of $162.93 and a 1 year high of $288.50. The company has a market capitalization of $13.16 billion, a PE ratio of 28.05 and a beta of 1.34. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.29 and a current ratio of 2.29.

Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.62 billion. During the same period in the prior year, the firm posted $2.01 earnings per share. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, research analysts predict that Jones Lang LaSalle will post 13.37 earnings per share for the current year.

Hedge Funds Weigh In On Jones Lang LaSalle

A number of large investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new stake in shares of Jones Lang LaSalle in the second quarter valued at about $34,000. Brooklyn Investment Group acquired a new stake in shares of Jones Lang LaSalle in the third quarter valued at about $34,000. UMB Bank n.a. raised its position in shares of Jones Lang LaSalle by 350.0% in the third quarter. UMB Bank n.a. now owns 135 shares of the financial services provider’s stock valued at $36,000 after buying an additional 105 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Jones Lang LaSalle in the third quarter valued at about $37,000. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Jones Lang LaSalle by 37.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 143 shares of the financial services provider’s stock valued at $39,000 after buying an additional 39 shares during the last quarter. 94.80% of the stock is currently owned by institutional investors and hedge funds.

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.