Short Interest in Jones Lang LaSalle Incorporated (NYSE:JLL) Drops By 5.2%

Jones Lang LaSalle Incorporated (NYSE:JLL) was the target of a significant decline in short interest in June. As of June 15th, there was short interest totalling 925,700 shares, a decline of 5.2% from the May 31st total of 976,500 shares. Approximately 2.0% of the company’s shares are sold short. Based on an average trading volume of 267,200 shares, the short-interest ratio is presently 3.5 days.

Jones Lang LaSalle Price Performance

JLL opened at $206.51 on Thursday. The stock has a 50-day moving average price of $198.44 and a 200-day moving average price of $188.39. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.35 and a quick ratio of 2.35. The firm has a market cap of $9.82 billion, a PE ratio of 33.20 and a beta of 1.38. Jones Lang LaSalle has a 1 year low of $119.46 and a 1 year high of $213.33.

Jones Lang LaSalle (NYSE:JLL) last issued its earnings results on Monday, May 6th. The financial services provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.93. Jones Lang LaSalle had a return on equity of 6.55% and a net margin of 1.42%. The business had revenue of $5.12 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the previous year, the firm earned $0.65 EPS. Jones Lang LaSalle’s revenue was up 8.7% on a year-over-year basis. Sell-side analysts predict that Jones Lang LaSalle will post 12.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Jones Lang LaSalle

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rise Advisors LLC bought a new position in shares of Jones Lang LaSalle during the 1st quarter valued at approximately $30,000. Atlas Capital Advisors LLC bought a new position in Jones Lang LaSalle in the 1st quarter worth approximately $35,000. Riverview Trust Co bought a new position in Jones Lang LaSalle in the 1st quarter worth approximately $38,000. Bruce G. Allen Investments LLC bought a new position in Jones Lang LaSalle in the 4th quarter worth approximately $47,000. Finally, LRI Investments LLC bought a new position in shares of Jones Lang LaSalle during the 1st quarter valued at approximately $58,000. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on JLL shares. Keefe, Bruyette & Woods lifted their price target on shares of Jones Lang LaSalle from $190.00 to $200.00 and gave the company a “market perform” rating in a report on Wednesday, May 8th. Raymond James upgraded shares of Jones Lang LaSalle from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $218.00 to $246.00 in a report on Wednesday, April 3rd. StockNews.com cut shares of Jones Lang LaSalle from a “strong-buy” rating to a “buy” rating in a report on Friday, June 21st. UBS Group boosted their target price on shares of Jones Lang LaSalle from $225.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Jefferies Financial Group began coverage on shares of Jones Lang LaSalle in a report on Wednesday, April 10th. They set a “buy” rating and a $246.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Jones Lang LaSalle has an average rating of “Moderate Buy” and a consensus price target of $223.33.

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.