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

Makita Corp. (OTCMKTS:MKTAY) shares gapped down before the market opened on Wednesday . The stock had previously closed at $30.89, but opened at $29.27. Makita shares last traded at $31.5260, with a volume of 6,364 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Makita from a “buy” rating to a “hold” rating in a research report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy”.

Makita Stock Performance

The company’s 50 day simple moving average is $30.03 and its 200 day simple moving average is $31.56. The stock has a market cap of $8.21 billion, a PE ratio of 15.18 and a beta of 0.52.

Makita (OTCMKTS:MKTAY) last announced its earnings results on Friday, October 31st. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.27 billion. Makita had a return on equity of 8.53% and a net margin of 10.72%. Equities research 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.