Axiom Securities reissued their sell rating on shares of Joy Global Inc. (NYSE:JOY) in a research report sent to investors on Saturday.

Several other research firms also recently weighed in on JOY. Zacks Investment Research downgraded shares of Joy Global from a buy rating to a hold rating in a research note on Tuesday, November 8th. Macquarie downgraded shares of Joy Global from an outperform rating to a neutral rating in a research note on Wednesday, October 19th. William Blair downgraded shares of Joy Global from an outperform rating to a market perform rating in a research note on Wednesday, October 19th. CL King downgraded shares of Joy Global from a buy rating to a neutral rating in a research note on Wednesday, October 19th. Finally, Vetr raised shares of Joy Global from a strong sell rating to a buy rating and set a $30.44 price target for the company in a research note on Monday, August 22nd. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have assigned a buy rating to the company’s stock. Joy Global currently has an average rating of Hold and an average price target of $19.41.

Analyst Recommendations for Joy Global (NYSE:JOY)

Shares of Joy Global (NYSE:JOY) opened at 28.07 on Friday. Joy Global has a 52 week low of $8.35 and a 52 week high of $28.55. The firm’s market capitalization is $2.76 billion. The company has a 50-day moving average of $27.91 and a 200 day moving average of $24.99.

Joy Global (NYSE:JOY) last posted its quarterly earnings results on Thursday, September 1st. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by $0.02. Joy Global had a negative net margin of 52.93% and a positive return on equity of 2.76%. The company earned $587 million during the quarter. During the same period in the prior year, the business posted $0.59 earnings per share. The company’s quarterly revenue was down 26.0% on a year-over-year basis. Equities research analysts anticipate that Joy Global will post $0.14 earnings per share for the current year.

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Several institutional investors have recently added to or reduced their stakes in JOY. Panagora Asset Management Inc. raised 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. Babson Capital Management LLC acquired a new position in Joy Global during the first quarter valued at approximately $633,000. BNP Paribas Arbitrage SA raised its position in Joy Global by 281.0% in the second quarter. BNP Paribas Arbitrage SA now owns 68,488 shares of the company’s stock valued at $1,448,000 after buying an additional 50,510 shares in the last quarter. Alpha Windward LLC acquired a new position in Joy Global during the second quarter valued at approximately $538,000. Finally, Macnealy Hoover Investment Management Inc. raised its position in Joy Global by 8.1% in the second quarter. Macnealy Hoover Investment Management Inc. now owns 20,125 shares of the company’s stock valued at $425,000 after buying an additional 1,500 shares in the last quarter. 89.74% of the stock is currently owned by institutional investors.

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.

5 Day Chart for NYSE:JOY

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