Makita (OTCMKTS:MKTAY) Shares Gap Down – Should You Sell?

Makita Corp. (OTCMKTS:MKTAY)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $32.80, but opened at $31.26. Makita shares last traded at $31.34, with a volume of 1,652 shares traded.

Analysts Set New Price Targets

MKTAY has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Makita from a “buy” rating to a “hold” rating in a report on Wednesday, November 19th. The Goldman Sachs Group lowered shares of Makita from a “hold” rating to a “sell” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Makita Stock Performance

The company’s fifty day moving average price is $29.88 and its two-hundred day moving average price is $31.69. The firm has a market capitalization of $8.45 billion, a PE ratio of 15.62 and a beta of 0.52.

Makita (OTCMKTS:MKTAY) last issued its quarterly earnings results on Friday, October 31st. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.27 billion. Makita had a net margin of 10.72% and a return on equity of 8.53%. On average, equities analysts expect that Makita Corp. will post 1.56 earnings per share for the current year.

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.