Makita (OTCMKTS:MKTAY) Stock Price Passes Below 200 Day Moving Average – Here’s Why

Makita Corp. (OTCMKTS:MKTAY) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $31.63 and traded as low as $30.64. Makita shares last traded at $30.7450, with a volume of 13,242 shares trading hands.

Analyst Upgrades and Downgrades

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

Makita Stock Up 0.5%

The stock has a market cap of $8.27 billion, a price-to-earnings ratio of 15.30 and a beta of 0.52. The company’s 50-day moving average is $29.73 and its 200-day moving average is $31.63.

Makita (OTCMKTS:MKTAY) last released its quarterly earnings data on Friday, October 31st. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. Makita had a return on equity of 8.53% and a net margin of 10.72%.The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.27 billion. On average, research analysts forecast 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.