Makita (OTCMKTS:MKTAY) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

Shares of Makita Corp. (OTCMKTS:MKTAY) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $32.57 and traded as low as $32.22. Makita shares last traded at $32.40, with a volume of 12,443 shares traded.

Analyst Ratings Changes

A number of research analysts have weighed in on MKTAY shares. The Goldman Sachs Group lowered Makita from a “hold” rating to a “sell” rating in a research note on Wednesday, January 14th. Wall Street Zen raised Makita from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Makita Stock Down 2.6%

The company has a market capitalization of $8.57 billion, a price-to-earnings ratio of 17.14 and a beta of 0.53. The company has a 50 day simple moving average of $35.38 and a 200 day simple moving average of $32.57.

Makita (OTCMKTS:MKTAY) last released its quarterly earnings data on Thursday, January 29th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.19 billion. Makita had a return on equity of 7.85% and a net margin of 9.96%. On average, research analysts forecast that Makita Corp. will post 1.56 EPS for the current fiscal 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.