Today, Joy Global Inc. (JOY) Earns “Sell” Rating from Axiom Securities

Today, Joy Global Inc. (JOY) Earns “Sell” Rating from Axiom Securities

Axiom Securities restated their sell rating on shares of Joy Global Inc. (NYSE:JOY) in a report released on Saturday morning.

Other equities research analysts have also issued reports about the stock. Vetr raised shares of Joy Global from a strong sell rating to a buy rating and set a $30.44 target price for the company in a report on Monday, August 22nd. BMO Capital Markets reissued a hold rating and issued a $28.00 target price on shares of Joy Global in a report on Tuesday, September 20th. Zacks Investment Research lowered shares of Joy Global from a buy rating to a hold rating in a report on Tuesday, November 8th. William Blair lowered shares of Joy Global from an outperform rating to a market perform rating in a report on Wednesday, October 19th. Finally, Robert W. Baird lowered shares of Joy Global from an outperform rating to a neutral rating and increased their target price for the stock from $26.00 to $28.00 in a report on Friday, September 2nd. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $19.41.

Shares of Joy Global (NYSE:JOY) opened at 28.07 on Friday. Joy Global has a one year low of $8.35 and a one year high of $28.55. The stock has a 50 day moving average of $27.91 and a 200-day moving average of $24.99. The company’s market capitalization is $2.76 billion.

Joy Global (NYSE:JOY) last released its earnings results on Thursday, September 1st. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.02. The firm earned $587 million during the quarter. Joy Global had a positive return on equity of 2.76% and a negative net margin of 52.93%. The company’s quarterly revenue was down 26.0% compared to the same quarter last year. During the same period last year, the company earned $0.59 earnings per share. On average, equities analysts expect that Joy Global will post $0.14 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in JOY. Vanguard Group Inc. increased its stake in Joy Global by 6.6% in the second quarter. Vanguard Group Inc. now owns 7,094,801 shares of the company’s stock valued at $149,984,000 after buying an additional 441,391 shares during the period. BlackRock Fund Advisors raised its position in shares of Joy Global by 6.3% in the third quarter. BlackRock Fund Advisors now owns 5,173,644 shares of the company’s stock valued at $143,517,000 after buying an additional 304,788 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Joy Global by 4.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,041,239 shares of the company’s stock valued at $84,364,000 after buying an additional 124,620 shares in the last quarter. Morgan Stanley raised its position in shares of Joy Global by 11.4% in the third quarter. Morgan Stanley now owns 2,946,741 shares of the company’s stock valued at $81,742,000 after buying an additional 300,758 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Joy Global by 4.0% in the third quarter. Bank of New York Mellon Corp now owns 2,108,852 shares of the company’s stock valued at $58,499,000 after buying an additional 80,373 shares in the last quarter. Institutional investors and hedge funds own 89.74% of the company’s stock.

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