Makita (OTCMKTS:MKTAY) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Makita Corp. (OTCMKTS:MKTAY)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. The Goldman Sachs Group downgraded Makita from a “hold” rating to a “sell” rating in a report on Wednesday, January 14th. Wall Street Zen upgraded 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

Makita Trading Down 1.0%

The business’s 50 day moving average price is $34.68 and its two-hundred day moving average price is $32.68. The stock has a market cap of $9.35 billion, a P/E ratio of 18.71 and a beta of 0.53.

Makita (OTCMKTS:MKTAY) last released its quarterly earnings results on Thursday, January 29th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. Makita had a net margin of 9.96% and a return on equity of 7.85%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.19 billion. As a group, analysts expect that Makita Corp. will post 1.56 earnings per share 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.