Makita (OTCMKTS:MKTAY) Share Price Crosses Above 50-Day Moving Average – Here’s Why

Makita Corp. (OTCMKTS:MKTAY)’s share price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $34.81 and traded as high as $36.06. Makita shares last traded at $35.96, with a volume of 6,888 shares.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of 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 Sell rating, Based on data from MarketBeat, Makita currently has an average rating of “Sell”.

Makita Price Performance

The firm’s 50-day moving average price is $34.81 and its 200 day moving average price is $33.34. The firm has a market cap of $9.51 billion, a P/E ratio of 18.07 and a beta of 0.66.

Makita (OTCMKTS:MKTAY) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.44 by $0.09. Makita had a net margin of 10.21% and a return on equity of 8.14%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.26 billion.

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.