Makita (OTCMKTS:MKTAY) Shares Gap Down – Here’s What Happened

Makita Corp. (OTCMKTS:MKTAY)’s share price gapped down prior to trading on Monday . The stock had previously closed at $33.72, but opened at $31.82. Makita shares last traded at $31.82, with a volume of 394 shares traded.

Analyst Upgrades and Downgrades

MKTAY has been the topic of a number of recent research reports. Wall Street Zen raised Makita from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. The Goldman Sachs Group lowered Makita from a “hold” rating to a “sell” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Makita presently has a consensus rating of “Reduce”.

Makita Stock Performance

The stock has a market capitalization of $8.95 billion, a PE ratio of 17.91 and a beta of 0.60. The business’s 50-day moving average price is $35.62 and its 200 day moving average price is $32.48.

Makita (OTCMKTS:MKTAY) last issued its quarterly earnings data on Thursday, January 29th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. The company had revenue of $1.25 billion during 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, equities research analysts predict 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.