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

Makita Corp. (OTCMKTS:MKTAY) gapped down before the market opened on Tuesday . The stock had previously closed at $31.93, but opened at $29.21. Makita shares last traded at $29.6650, with a volume of 855 shares changing hands.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Makita from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Makita Stock Down 3.2%

The firm has a 50-day simple moving average of $32.75 and a 200-day simple moving average of $31.81. The stock has a market cap of $7.69 billion, a PE ratio of 13.88 and a beta of 0.58.

Makita (OTCMKTS:MKTAY) last issued its quarterly earnings data on Friday, October 31st. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Makita had a return on equity of 9.00% and a net margin of 11.07%. On average, research analysts expect that Makita Corp. will post 1.56 earnings per share for the current year.

About Makita

Makita Corporation engages in the manufacture and sale of electric power tools, pneumatic tools, and gardening and household equipment in Japan, Europe, North America, Asia, Australia, Brazil, and the United Arab Emirates. It offers cordless, drilling/fastening, impact drilling/demolition, grinding/sanding, sawing, planning/routering, pneumatic, outdoor power, and dust extraction/other equipment, as well as accessories; and cutting equipment for new materials, masonry, and metals.