Makita (OTCMKTS:MKTAY) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Makita Corp. (OTCMKTS:MKTAY)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $32.65 and traded as high as $33.4350. Makita shares last traded at $32.9115, with a volume of 18,441 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MKTAY. Wall Street Zen raised shares of Makita from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. The Goldman Sachs Group downgraded Makita from a “hold” rating to a “sell” rating in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Makita Stock Down 2.2%

The firm has a market capitalization of $8.71 billion, a price-to-earnings ratio of 17.41 and a beta of 0.53. The company’s fifty day moving average is $35.07 and its two-hundred day moving average is $32.63.

Makita (OTCMKTS:MKTAY) last released its earnings results on Thursday, January 29th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.19 billion. Makita had a net margin of 9.96% and a return on equity of 7.85%. On average, equities research analysts expect that Makita Corp. will post 1.56 EPS for the current year.

Makita Company Profile

Makita Corporation (OTCMKTS:MKTAY) is a global manufacturer of professional and consumer power tools headquartered in Anjō, Aichi Prefecture, Japan. Founded in 1915 as an electric motor sales and repair company, it incorporated as Makita Electric Works, Ltd. in 1958 and has since expanded its product portfolio to serve both industrial and residential markets. The company’s core business activities encompass the design, production and distribution of power tools, outdoor power equipment and accessories.

Makita’s product lineup includes cordless and corded electric drills, drivers, saws, grinders, sanders and rotary hammers, as well as pneumatic and gasoline-powered machinery.