Jones Lang LaSalle Incorporated (NYSE:JLL) Sees Significant Drop in Short Interest

Jones Lang LaSalle Incorporated (NYSE:JLL) was the target of a large drop in short interest in the month of February. As of February 15th, there was short interest totalling 474,500 shares, a drop of 23.6% from the January 31st total of 620,900 shares. Based on an average trading volume of 324,600 shares, the short-interest ratio is presently 1.5 days. Approximately 1.0% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

JLL has been the subject of a number of research reports. JPMorgan Chase & Co. upped their price target on shares of Jones Lang LaSalle from $263.00 to $327.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. The Goldman Sachs Group initiated coverage on Jones Lang LaSalle in a research report on Friday, December 6th. They issued a “buy” rating and a $352.00 target price for the company. StockNews.com lowered Jones Lang LaSalle from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Raymond James upped their price target on Jones Lang LaSalle from $317.00 to $320.00 and gave the stock a “strong-buy” rating in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods upgraded shares of Jones Lang LaSalle from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $292.00 to $325.00 in a research note on Tuesday, December 10th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Jones Lang LaSalle has a consensus rating of “Buy” and a consensus target price of $309.00.

Jones Lang LaSalle Price Performance

JLL stock opened at $266.50 on Tuesday. The company has a market capitalization of $12.63 billion, a PE ratio of 23.60 and a beta of 1.36. The company has a quick ratio of 2.29, a current ratio of 2.00 and a debt-to-equity ratio of 0.12. The stock’s 50 day moving average is $266.19 and its two-hundred day moving average is $264.47. Jones Lang LaSalle has a 52-week low of $171.45 and a 52-week high of $288.50.

Jones Lang LaSalle (NYSE:JLL) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $6.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.76 by $0.39. The firm had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.65 billion. Jones Lang LaSalle had a net margin of 2.33% and a return on equity of 10.20%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the company posted $4.23 earnings per share. Analysts predict that Jones Lang LaSalle will post 16.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Jones Lang LaSalle

Several large investors have recently modified their holdings of the stock. Private Trust Co. NA lifted its holdings in Jones Lang LaSalle by 112.0% during the 4th quarter. Private Trust Co. NA now owns 106 shares of the financial services provider’s stock worth $27,000 after buying an additional 56 shares during the last quarter. Brooklyn Investment Group bought a new position in Jones Lang LaSalle during the third quarter worth $34,000. R Squared Ltd acquired a new position in Jones Lang LaSalle in the fourth quarter worth $35,000. Principal Securities Inc. increased its stake in Jones Lang LaSalle by 166.7% during the fourth quarter. Principal Securities Inc. now owns 176 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 110 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Jones Lang LaSalle by 35.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 194 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 51 shares during the period. Institutional investors own 94.80% of the company’s stock.

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.