Interest rates are near historical lows and the Fed is committed to keeping a lid on interest rates. Meanwhile, housing is in short supply and economic recovery from the pandemic on the horizon. Conditions are ripe for improved real estate sales. Reflecting that trend, Jones Lang LaSalle‘s (JLL) stock Relative Strength (RS) Rating climbed to 71 Tuesday, up from 65 the prior trading session.
The 71 RS Rating means that Jones Lang LaSalle is outperforming 71% of all stocks on key metrics. Decades of market research shows that the best-performing stocks often have an RS Rating over 80 as they begin their biggest runs. See if Chicago-based Jones Lang LaSalle can continue to show renewed price strength and hit that benchmark.
Jones Lang LaSalle Defies Market, Rises
The company’s stock is showing unusual strength as the market consolidates. Its shares climbed 4.2% on Friday, 6.1% Monday and were up another 3.3% Tuesday afternoon despite markets being down for the day.
Most of its ratings are still weak as it emerges from the coronavirus crash. However, the global real estate and money management giant with operations in 80 countries holds a B- Accumulation/Distribution Rating. The B- A/D Rating, on an A+ to E scale, means institutional investors are moderately buying shares. And that points to confidence the company’s metrics will continue improving.
In terms of fundamentals, in its most recent quarter, Jones Lang LaSalle’s earnings fell 17% year over year to $5.29 a share. Revenue dipped 10% to $4.85 billion, but that was its best performance in three quarters.
The company holds the No. 18 rank among its peers in the Real Estate-Development/Operations industry group. Exp World Holdings (EXPI) and FirstService (FSV) are among the group’s highest-rated stocks.
While it’s a candidate for your watchlist as it continues to run higher, it hasn’t formed an actionable base recently. See if the stock is able to form a base and break out.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD’s unique rating tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock’s price performance over the last 52 weeks compares to all the other stocks in our database.
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