Makita (OTCMKTS:MKTAY) Shares Cross Above 200 Day Moving Average – What’s Next?

Makita Corp. (OTCMKTS:MKTAY)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $32.69 and traded as high as $36.02. Makita shares last traded at $35.73, with a volume of 23,271 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. 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 raised Makita from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Makita Trading Down 2.5%

The business’s 50-day simple moving average is $34.58 and its two-hundred day simple moving average is $32.69. The firm has a market cap of $9.45 billion, a price-to-earnings ratio of 18.90 and a beta of 0.53.

Makita (OTCMKTS:MKTAY) last posted its quarterly earnings results on Thursday, January 29th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.19 billion. Makita had a return on equity of 7.85% and a net margin of 9.96%. On average, 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.