Baird Downgrades Joy Global to Neutral

Brokerage firm Baird Downgrades its rating on Joy Global(NYSE:JOY). The shares have been rated Neutral. Previously, the analysts had a Outperform rating on the shares. The rating by Baird was issued on Sep 2, 2016.

In a different note, On Jul 22, 2016, BB&T Capital said it Upgrades its rating on Joy Global. The shares have been rated ‘Hold’ by the firm. On Jul 21, 2016, Barclays said it Downgrades its rating on Joy Global. The shares have been rated ‘Equal-weight’ by the firm. On Jul 21, 2016, BB&T Capital said it Upgrades its rating on Joy Global. The shares have been rated ‘Neutral’ by the firm. On Jul 15, 2016, Jefferies said it Maintains its rating on Joy Global. In the research note, the firm Raises the price-target to $19.00 per share. The shares have been rated ‘Hold’ by the firm. On Jun 10, 2016, FBR Capital said it Upgrades its rating on Joy Global. The shares have been rated ‘Outperform’ by the firm.

Joy Global (JOY) shares turned negative on Thursdays trading session with the shares closing down -0.03 points or -0.11% at a volume of 16,77,772. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $27.39. The peak price level was also seen at $27.39 while the days lowest was $27.15. Finally the shares closed at $27.25. The 52-week high of the shares is $28.55 while the 52-week low is $8.35. According to the latest information available, the market cap of the company is $2,674 M.

Joy Global(JOY) last announced its earnings results on Jun 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $601.99M. Analysts had an estimated revenue of $607.72M. Earnings per share were $0.09.

Several Insider Transactions has been reported to the SEC. On Jan 8, 2016, Edward L Ii Doheny (CEO) purchased 10,000 shares at $11.20 per share price.Also, On Sep 29, 2015, Paul Eric Siegert (director) purchased 25,000 shares at $14.81 per share price.On Sep 17, 2015, Richard B Loynd (director) purchased 5,000 shares at $18.60 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s 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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