Joy Global (JOY) : The consensus price target for Joy Global (JOY) is $21.25 for the short term with a standard deviation of $4.4. The most optimist securities analyst among the 8 who monitor the stock believes that the stock can reach $26, however, the pessimist price target for the company is $14.
Joy Global (JOY) has seen a rise of 968,320 shares or 6% in the short interest. The remaining shorts are 17.8% of the total floated shares. The net short interest, as on June 30,2016, stood at 17,240,512 shares and the stocks days to cover will be 4 by factoring in the average per day volume of 4,392,661 shares. On June 15,2016, 16,272,192 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.
Also, Equity Analysts at the FBR Capital upgrades the rating on Joy Global (NYSE:JOY). The brokerage firm has issued a Outperform rating on the shares. The shares were previously rated Market Perform. The rating by the firm was issued on June 10, 2016.
Joy Global (NYSE:JOY): On Thursdays trading session , Opening price of the stock was $23.76 with an intraday high of $23.88. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $23.26. However, the stock managed to close at $23.38, a loss of 0.76% for the day. On the previous day, the stock had closed at $23.56. The total traded volume of the day was 2,247,916 shares.
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.