Makita (OTCMKTS:MKTAY) Downgraded to Hold Rating by Wall Street Zen

Makita (OTCMKTS:MKTAY) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday.

Separately, The Goldman Sachs Group downgraded Makita from a “hold” rating to a “sell” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Makita currently has a consensus rating of “Hold”.

Makita Price Performance

Shares of MKTAY stock traded up $0.35 during trading hours on Friday, reaching $31.40. 13,468 shares of the company traded hands, compared to its average volume of 15,275. The firm has a 50-day moving average price of $29.92 and a 200 day moving average price of $31.70. The company has a market cap of $8.45 billion, a P/E ratio of 15.62 and a beta of 0.52. Makita has a 12-month low of $25.56 and a 12-month high of $39.05.

Makita (OTCMKTS:MKTAY) last released its earnings results on Friday, October 31st. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Makita had a net margin of 10.72% and a return on equity of 8.53%. Sell-side analysts predict that Makita will post 1.56 EPS for the current 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.