Short Term Price Target on Joy Global (JOY)

Joy Global (NYSE:JOY) : Average target price received by Joy Global (NYSE:JOY) is $21.25 with an expected standard deviation of $4.4. The most aggressive target on the stock is $26, whereas the most downbeat target is $14. 8 financial analysts are currently covering the stock.

Joy Global, Inc. has dropped 7.12% in the last five trading days, however, the shares have posted positive gains of 26.64% in the last 4 weeks. Joy Global, Inc. is up 31.94% in the last 3-month period. Year-to-Date the stock performance stands at 67.83%. Also, Equity Analysts at the Brokerage Firm, FBR Capital, upgrades their rating on the shares of Joy Global (NYSE:JOY). FBR Capital has a Outperform rating on the shares. Previously, the analysts had a Market Perform rating on the shares. The rating by the firm was issued on June 10, 2016.

Joy Global (NYSE:JOY) : Zacks Investment Research ranks Joy Global (NYSE:JOY) as 3, which is a Hold recommendation. 4 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 2 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 7 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 13 research analysts is 2.69, which indicates as a Hold.

Joy Global (NYSE:JOY): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $20.70 and $20.22 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $21.16. The buying momentum continued till the end and the stock did not give up its gains. It closed at $21.14, notching a gain of 2.77% for the day. The total traded volume was 2,878,786 . The stock had closed at $20.57 on the previous day.

In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the CEO of Joy Global Inc, Doheny Edward L Ii, had purchased 10,000 shares in a transaction dated on January 6, 2016. The transaction was executed at $11.2 per share with total amount equaling $112,000.

Joy Global Inc. is a manufacturer and servicer of high productivity mining equipment for the extraction of coal and other minerals and ores. The Company manufactures and market original equipment and aftermarket parts and services for both underground and surface mining and certain industrial applications. The Companys equipment is used in major mining regions throughout the world to mine coal, copper, iron ore, oil sands, gold and other minerals. The Company operates in two business segments: Underground Mining Machinery and Surface Mining Equipment. The Company is a manufacturer of underground mining machinery for the extraction of coal and other bedded minerals and offer service locations near major mining regions worldwide. The Company is a major producer of surface mining equipment for the extraction of ores and minerals and provides extensive operational support for many types of equipment used in surface mining.

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