Joy Global Inc. (NYSE: JOY) Stock Rating Reiterated at BMO Capital Markets

Joy Global Inc. (NYSE: JOY) had its Hold rating reiterated by equities researchers at BMO Capital Markets in a research note to investors.With a rating of Hold on the stock, Joy Global Inc. has a 52-week high of $28.55. The one-year price target of $25.64 is a decrease compared to the opening price of $27.50, causing a fair amount of other analysts to report on the company recently. Typically, after analysts issue a “reiterated rating” report on a stock, they will subsequently issue sporadic revisions, usually followed by a price target change.

U.S. stocks on Monday closed mostly flat, after trading firmly higher, in a volatile session ahead of the start of a pair of closely watched central-bank policy meetings.

The Dow Jones Industrial Average DJIA, -0.02% closed down 3.63 points at 18,120.17.

The blue-chip gauge had been up by as much as 131 points earlier and traded within a 162-point range.

The S&P 500 SPX, +0.00% slipped 0.04 points to close at 2,139.12, after trading within an 18-point range

Meanwhile, the Nasdaq Composite Index COMP, -0.18% declined 9.54 points, or 0.2%, to close at 5,235.03.

Earlier, the Nasdaq Composite Index had been up by as many as 37 points and traded with a 58-point range

Yesterday Joy Global Inc. (NYSE: JOY) shares last traded at $27.52, which represents an increase of $0.06 compared to the previous closing price. Opening at $27.50, they varied from $27.47 and $27.54 throughout the day.

Joy Global Inc. (NYSE: JOY) now has a market cap of 2.70B.

The stock’s average daily volume is 3,371,450 shares out of a total float 91,067,000 and some 106,850 shares crossed the trading desk yesterday, 86 percent below the norm. Trading volume is likely to increase in the next few days as swing traders often use increases in trading volume to determine heavy volume accumulation or distribution by institutional investors.

While increased trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is crucial.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

Professional investors such as these retain substantial teams of analysts researching thousands of stocks, so it is good confirmation to see them buying a stock you are considering.

By tracking the activity of these professional investors and how they affect moving averages, traders can make well planned trades.

With that in mind, Joy Global Inc. (NYSE: JOY) now has a 50-day MA of $27.45 and 200-day MA of $21.51. It has traded in a 52-week range between $8.35 – 28.55 and today’s last price is 0.04% lower than the 52 week high of $28.55.

Earnings growth is a critical factor to look at when buying stocks and investors look for companies that have raised their earnings at least 25% or more over a 3 year period.

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