Makita (OTCMKTS:MKTAY) Shares Gap Down – Time to Sell?

Shares of Makita Corp. (OTCMKTS:MKTAY) gapped down before the market opened on Wednesday . The stock had previously closed at $30.41, but opened at $29.07. Makita shares last traded at $30.1850, with a volume of 3,822 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Makita from a “buy” rating to a “hold” rating in a report on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy”.

Makita Trading Down 0.7%

The company has a market capitalization of $8.12 billion, a price-to-earnings ratio of 15.02 and a beta of 0.52. The company’s 50 day simple moving average is $29.91 and its 200-day simple moving average is $31.59.

Makita (OTCMKTS:MKTAY) last announced its quarterly earnings data on Friday, October 31st. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. Makita had a net margin of 10.72% and a return on equity of 8.53%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.27 billion. Sell-side analysts anticipate 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.