Makita (OTCMKTS:MKTAY) Share Price Crosses Above 50-Day Moving Average – Here’s Why

Makita Corp. (OTCMKTS:MKTAY) shares crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $34.81 and traded as high as $36.06. Makita shares last traded at $35.96, with a volume of 6,888 shares traded.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Makita from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Makita Stock Down 0.0%

The stock has a market cap of $9.51 billion, a price-to-earnings ratio of 18.07 and a beta of 0.66. The firm’s 50 day moving average is $34.81 and its two-hundred day moving average is $33.34.

Makita (OTCMKTS:MKTAY) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.44 by $0.09. Makita had a net margin of 10.21% and a return on equity of 8.14%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.26 billion.

About Makita

Makita Corporation (OTCMKTS:MKTAY) is a global manufacturer of professional and consumer power tools headquartered in Anj?, 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.