Joy Global (JOY) has risen sharply, recording gains of 25.27% in the past 4 weeks. However, the stock has corrected -0.62% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 22.23% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Joy Global (NYSE:JOY): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $27.44 and $27.40 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $27.51. The buying momentum continued till the end and the stock did not give up its gains. It closed at $27.46, notching a gain of 0.51% for the day. The total traded volume was 2,515,034 . The stock had closed at $27.32 on the previous day.
The stock has recorded a 20-day Moving Average of 6.88% and the 50-Day Moving Average is 21.15%. Joy Global, Inc. is up 45.2% in the last 3-month period. Year-to-Date the stock performance stands at 118%.
Joy Global (JOY) : 9 investment research analysts covering Joy Global (JOY) have an average price target of $27 for the near short term. The highest target price given by the Brokerage Firm to the stock is $28 and the lowest target is $24 for the short term. Analysts expect the variance to be within $1.58 of the average price.
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.