Makita (OTCMKTS:MKTAY) Sets New 12-Month High – Here’s What Happened

Makita Corp. (OTCMKTS:MKTAY) reached a new 52-week high on Tuesday . The company traded as high as $39.88 and last traded at $39.88, with a volume of 24076 shares trading hands. The stock had previously closed at $38.76.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group downgraded Makita from a “hold” rating to a “sell” rating in a research report on Wednesday, January 14th. Wall Street Zen raised Makita from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

Makita Price Performance

The company has a market capitalization of $10.55 billion, a price-to-earnings ratio of 21.11 and a beta of 0.53. The company’s 50-day moving average price is $31.54 and its two-hundred day moving average price is $32.00.

Makita (OTCMKTS:MKTAY) last issued its quarterly earnings results on Thursday, January 29th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. Makita had a return on equity of 7.85% and a net margin of 9.96%.The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.19 billion. On average, equities research analysts expect that Makita Corp. will post 1.56 EPS for the current fiscal year.

About Makita

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.