Makita (OTCMKTS:MKTAY) Trading Up 5.1% – Time to Buy?

Makita Corp. (OTCMKTS:MKTAY)’s stock price shot up 5.1% on Thursday . The company traded as high as $33.34 and last traded at $32.80. 6,816 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 17,633 shares. The stock had previously closed at $31.22.

Wall Street Analyst Weigh In

Several brokerages have commented on MKTAY. The Goldman Sachs Group downgraded shares of Makita from a “hold” rating to a “sell” rating in a report on Wednesday, January 14th. Wall Street Zen cut Makita from a “buy” rating to a “hold” rating in a research note on Sunday, January 18th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold”.

Makita Trading Up 7.2%

The business has a 50-day moving average price of $30.31 and a two-hundred day moving average price of $31.69. The stock has a market capitalization of $8.59 billion, a P/E ratio of 16.15 and a beta of 0.52.

Makita (OTCMKTS:MKTAY) last issued its earnings results on Thursday, January 29th. The company reported $0.46 EPS for the quarter. Makita had a net margin of 10.72% and a return on equity of 8.53%. On average, sell-side analysts forecast that Makita Corp. will post 1.56 earnings per share for the current fiscal 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.