Jones Lang LaSalle (JLL) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Jones Lang LaSalle (NYSE:JLL) from a buy rating to a hold rating in a research note released on Monday morning.

According to Zacks, “Shares of Jones Lang LaSalle, better known as JLL, have outperformed the industry it belongs to in the past three months. The stock has seen the Zacks Consensus Estimate for 2018 earnings being revised upward in a month’s time. The company recently announced that its division called JLL Spark acquired Stessa, a real estate “software-as-a-service” technology platform. Notably, the company’s diversified product & services range is expected to enable JLL 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. 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.”

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A number of other brokerages have also recently issued reports on JLL. JPMorgan Chase boosted their price objective on Jones Lang LaSalle from $169.00 to $193.00 and gave the stock an overweight rating in a report on Tuesday, March 27th. Goldman Sachs began coverage on Jones Lang LaSalle in a report on Tuesday, April 3rd. They set a neutral rating and a $176.00 price objective for the company. Barclays boosted their price objective on Jones Lang LaSalle from $170.00 to $175.00 and gave the stock an overweight rating in a report on Tuesday, March 6th. ValuEngine upgraded Jones Lang LaSalle from a hold rating to a buy rating in a report on Friday, February 2nd. Finally, JMP Securities cut Jones Lang LaSalle from an outperform rating to a market perform rating in a report on Wednesday, January 24th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. Jones Lang LaSalle currently has an average rating of Hold and an average price target of $160.90.

Shares of NYSE JLL opened at $173.12 on Monday. The company has a market cap of $7,801.73, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 1.57 and a beta of 1.65. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.34 and a current ratio of 1.34. Jones Lang LaSalle has a twelve month low of $105.13 and a twelve month high of $178.75.

Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $4.92 earnings per share for the quarter, topping analysts’ consensus estimates of $4.22 by $0.70. Jones Lang LaSalle had a return on equity of 13.55% and a net margin of 3.20%. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the previous year, the business earned $3.95 earnings per share. The business’s revenue was up 17.5% compared to the same quarter last year. analysts anticipate that Jones Lang LaSalle will post 9.95 earnings per share for the current fiscal year.

In related news, EVP Mark Ohringer sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $160.13, for a total value of $800,650.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.72% of the company’s stock.

Several hedge funds have recently modified their holdings of JLL. Russell Investments Group Ltd. boosted its stake in shares of Jones Lang LaSalle by 39.5% in the third quarter. Russell Investments Group Ltd. now owns 26,013 shares of the financial services provider’s stock valued at $3,211,000 after buying an additional 7,361 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Jones Lang LaSalle by 4.1% in the third quarter. Schwab Charles Investment Management Inc. now owns 168,855 shares of the financial services provider’s stock valued at $20,854,000 after buying an additional 6,622 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Jones Lang LaSalle by 9.6% in the third quarter. Dimensional Fund Advisors LP now owns 628,395 shares of the financial services provider’s stock valued at $77,608,000 after buying an additional 55,020 shares during the period. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Jones Lang LaSalle in the third quarter valued at approximately $883,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Jones Lang LaSalle in the third quarter valued at approximately $475,000. Institutional investors and hedge funds own 92.31% of the company’s stock.

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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.

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