Joy Global Inc. (NYSE:JOY) shot up 5.5% on Friday . The stock traded as high as $22.06 and last traded at $21.95, with a volume of 1,134,034 shares traded. The stock had previously closed at $20.80.

Several research firms recently weighed in on JOY. Bank of America Corp. upgraded shares of Joy Global from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $8.00 to $22.00 in a research note on Monday, April 18th. Robert W. Baird reiterated a “buy” rating on shares of Joy Global in a research note on Sunday, April 17th. Citigroup Inc. reiterated a “hold” rating on shares of Joy Global in a research note on Saturday, June 4th. Vetr upgraded shares of Joy Global from a “strong sell” rating to a “sell” rating and set a $19.12 price objective on the stock in a research note on Wednesday, June 22nd. Finally, FBR & Co upgraded shares of Joy Global from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $14.00 to $25.00 in a research note on Friday, June 10th. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $18.63.

The stock’s market capitalization is $2.15 billion. The company has a 50-day moving average price of $20.10 and a 200-day moving average price of $15.80.

Joy Global (NYSE:JOY) last announced its earnings results on Thursday, June 2nd. The company reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.10. During the same period in the prior year, the firm posted $0.59 earnings per share. The company earned $602 million during the quarter, compared to the consensus estimate of $605.64 million. The company’s revenue was down 25.7% on a year-over-year basis. On average, equities research analysts forecast that Joy Global Inc. will post $0.15 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 6th. Investors of record on Wednesday, June 22nd were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date was Monday, June 20th.

Several large investors have bought and sold shares of JOY. Retirement Systems of Alabama increased its stake in Joy Global by 62.2% in the fourth quarter. Retirement Systems of Alabama now owns 183,190 shares of the company’s stock worth $2,310,000 after buying an additional 70,272 shares during the period. Neuberger Berman Group LLC increased its stake in Joy Global by 22.0% in the fourth quarter. Neuberger Berman Group LLC now owns 1,994,875 shares of the company’s stock worth $25,155,000 after buying an additional 359,221 shares during the period. Nationwide Fund Advisors increased its stake in Joy Global by 224.6% in the fourth quarter. Nationwide Fund Advisors now owns 155,818 shares of the company’s stock worth $1,965,000 after buying an additional 107,822 shares during the period. California State Teachers Retirement System increased its stake in Joy Global by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 186,223 shares of the company’s stock worth $2,348,000 after buying an additional 3,005 shares during the period. Finally, Rhumbline Advisers increased its stake in Joy Global by 3.3% in the fourth quarter. Rhumbline Advisers now owns 146,991 shares of the company’s stock worth $1,854,000 after buying an additional 4,749 shares during the period.

Joy Global Inc is a manufacturer and servicer of mining equipment for the extraction of metals and minerals. The Company manufactures and markets original equipment and parts, and performs services for both underground and surface mining, as well as certain industrial applications. Its equipment is used in mining regions to mine coal, copper, iron ore, oil sands, gold, and other minerals and ores.

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