Joy Global Inc. (JOY) Receives $21.83 Consensus Target Price from Analysts
Joy Global Inc. (NYSE:JOY) has been given a consensus recommendation of “Hold” by the twenty-three ratings firms that are covering the company. Two research analysts have rated the stock with a sell recommendation, nineteen have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $21.83.
A number of equities research analysts have recently issued reports on JOY shares. BMO Capital Markets reiterated a “hold” rating and set a $28.00 price objective on shares of Joy Global in a research note on Tuesday, September 20th. Zacks Investment Research raised Joy Global from a “sell” rating to a “hold” rating and set a $31.00 target price on the stock in a report on Monday, October 31st. Vetr raised Joy Global from a “strong sell” rating to a “buy” rating and set a $30.44 target price on the stock in a report on Monday, August 22nd. Avondale Partners lowered Joy Global from an “outperform” rating to a “market perform” rating in a report on Friday, July 22nd. Finally, Axiom Securities reissued a “sell” rating on shares of Joy Global in a report on Tuesday, August 30th.
Joy Global (NYSE:JOY) opened at 28.00 on Wednesday. The firm’s 50 day moving average price is $27.88 and its 200-day moving average price is $24.67. Joy Global has a one year low of $8.35 and a one year high of $28.55. The company’s market capitalization is $2.75 billion.
Joy Global (NYSE:JOY) last announced its quarterly earnings data on Thursday, September 1st. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by $0.02. Joy Global had a positive return on equity of 2.76% and a negative net margin of 52.93%. The company had revenue of $587 million for the quarter. During the same quarter in the prior year, the company posted $0.59 EPS. The firm’s quarterly revenue was down 26.0% on a year-over-year basis. Equities analysts forecast that Joy Global will post $0.14 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the stock. A.R.T. Advisors LLC increased its position in Joy Global by 31.8% in the first quarter. A.R.T. Advisors LLC now owns 168,891 shares of the company’s stock valued at $2,714,000 after buying an additional 40,729 shares in the last quarter. Magnetar Financial LLC increased its position in Joy Global by 7.7% in the first quarter. Magnetar Financial LLC now owns 35,117 shares of the company’s stock valued at $564,000 after buying an additional 2,501 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in Joy Global during the first quarter valued at approximately $324,000. Robotti Robert increased its position in Joy Global by 8.6% in the first quarter. Robotti Robert now owns 63,409 shares of the company’s stock valued at $1,019,000 after buying an additional 5,030 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its position in Joy Global by 3,215.1% in the first quarter. Panagora Asset Management Inc. now owns 332,011 shares of the company’s stock valued at $5,335,000 after buying an additional 321,996 shares in the last quarter. Hedge funds and other institutional investors own 99.75% of the company’s stock.
About Joy Global
Joy Global Inc is a manufacturer and servicer of mining equipment for the extraction of metals and minerals. The Company manufactures and markets original equipment and parts, and performs services for both underground and surface mining, as well as certain industrial applications. Its equipment is used in mining regions to mine coal, copper, iron ore, oil sands, gold, and other minerals and ores.
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