Will Today’s FBR Capital Upgrade Ultimately Help The Stock Price of Joy Global (NYSE:JOY)?

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Joy Global (NYSE:JOY) Stock Upgrade

Shares of Joy Global (NYSE:JOY) were boosted to a solid Mkt Perform rating thanks to stock analysts at FBR Capital, who now give it a target PPS of $10.0. The firm’s previous Underperform rating has been canceled.

From a total of 20 analysts covering Joy Global Inc. (NYSE:JOY) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $30 while the lowest target price is $8. The mean of all analyst targets is $15.07 with a 75.50% above today’s ($12.12) stock price. Joy Global Inc. was the topic of 19 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Bank of America downgraded shares on December 1 to “Underperform” rating. UBS maintained shares with “Neutral” rating and $20.0 target share price in a report from a September 4. Avondale initiated JOY stock in a recent report from October 15 with “Market Perform” rating. RBC Capital Markets maintained the rating on September 4. RBC Capital Markets has a “Sector Perform” rating and a $23 price target on shares. Finally, FBR Capital initiated the stock with “Underperform” rating in a report issued on a September 18.

The stock increased 2.11% or $0.25 on December 21, striking $12.12. Approximately 650 shares of stock traded hands. Joy Global Inc. (NYSE:JOY) has declined 71.86% since May 18, 2015 and is downtrending. It has underperformed by 66.06% the S&P500.

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 has a market cap of $1.18 billion. The Firm makes and market original equipment and aftermarket parts and services for both underground and surface mining and certain industrial applications. It currently has negative earnings. 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.

According to Zacks Investment Research, “Joy Global Inc. is a worldwide leader in manufacturing, servicing and distributing equipment for surface mining through its P&H Mining Equipment division and underground mining through its Joy Mining Machinery division.(Press Release)”

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