Makita (OTCMKTS:MKTAY) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Makita Corp. (OTCMKTS:MKTAY) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $32.65 and traded as high as $33.4350. Makita shares last traded at $32.9115, with a volume of 18,441 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MKTAY shares. The Goldman Sachs Group cut shares of Makita from a “hold” rating to a “sell” rating in a report 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 given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce”.

Makita Stock Down 2.2%

The stock has a 50-day moving average of $35.07 and a 200 day moving average of $32.65. The stock has a market cap of $8.71 billion, a PE ratio of 17.41 and a beta of 0.53.

Makita (OTCMKTS:MKTAY) last released its quarterly earnings data on Thursday, January 29th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Makita had a net margin of 9.96% and a return on equity of 7.85%. Research 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.