Makita (OTCMKTS:MKTAY) Shares Gap Up – Still a Buy?

Makita Corp. (OTCMKTS:MKTAY) gapped up before the market opened on Wednesday . The stock had previously closed at $33.31, but opened at $34.81. Makita shares last traded at $34.1885, with a volume of 1,313 shares trading hands.

Makita Stock Down 0.1%

The firm’s 50-day moving average is $34.95 and its 200-day moving average is $33.60. The company has a market cap of $8.94 billion, a PE ratio of 16.98 and a beta of 0.63.

Makita (OTCMKTS:MKTAY) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.53 earnings per share (EPS) for the quarter, beating 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 company 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.