BB&T Capital Upgrades Joy Global to Neutral

Brokerage firm BB&T Capital Upgrades its rating on Joy Global(NYSE:JOY). The shares have been rated Neutral. Previously, the analysts had a Underweight rating on the shares. The rating by BB&T Capital was issued on Jul 21, 2016.

In a different note, On Jul 21, 2016, Barclays said it Downgrades its rating on Joy Global. The shares have been rated ‘Equal-weight’ 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. On Jun 3, 2016, Morgan Stanley said it Maintains its rating on Joy Global. In the research note, the firm Raises the price-target to $13.00 per share. The shares have been rated ‘Equal-weight’ by the firm. On Jun 3, 2016, Citigroup said it Maintains its rating on Joy Global. In the research note, the firm Raises the price-target to $16.00 per share. The shares have been rated ‘Neutral’ by the firm. On Apr 25, 2016, Goldman Sachs said it Upgrades its rating on Joy Global. In the research note, the firm Raises the price-target to $13.00 per share. The shares have been rated ‘Neutral’ by the firm.

Joy Global (JOY) made into the market gainers list on Wednesdays trading session with the shares advancing 1.07% or 0.25 points. Due to strong positive momentum, the stock ended at $23.55, which is also near the day’s high of $23.79. The stock began the session at $23.08 and the volume stood at 20,52,482 shares. The 52-week high of the shares is $30.77 and the 52 week low is $8.35. The company has a current market capitalization of $2,311 M and it has 9,81,37,336 shares in outstanding.

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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