Makita (OTCMKTS:MKTAY) Sees Strong Trading Volume – Here’s What Happened

Makita Corp. (OTCMKTS:MKTAY) saw strong trading volume on Thursday . 67,170 shares changed hands during trading, an increase of 259% from the previous session’s volume of 18,708 shares.The stock last traded at $32.8160 and had previously closed at $33.55.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wall Street Zen raised Makita from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. The Goldman Sachs Group lowered Makita from a “hold” rating to a “sell” rating in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

Makita Stock Performance

The business’s fifty day simple moving average is $35.24 and its 200 day simple moving average is $32.61. The stock has a market cap of $8.70 billion, a price-to-earnings ratio of 17.40 and a beta of 0.53.

Makita (OTCMKTS:MKTAY) last announced its 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. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.19 billion. Makita had a return on equity of 7.85% and a net margin of 9.96%. As a group, analysts forecast that Makita Corp. will post 1.56 EPS for the current fiscal 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.