Makita (OTCMKTS:MKTAY) Sees Unusually-High Trading Volume – Time to Buy?

Makita Corp. (OTCMKTS:MKTAY) shares saw an uptick in trading volume on Thursday . 67,170 shares changed hands during trading, an increase of 259% from the previous session’s volume of 18,708 shares.The stock last traded at $32.8160 and had previously closed at $33.55.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MKTAY. 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 shares of 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Makita Stock Down 2.0%

The firm has a market cap of $8.70 billion, a price-to-earnings ratio of 17.40 and a beta of 0.53. The firm has a fifty day moving average price of $35.24 and a 200-day moving average price of $32.61.

Makita (OTCMKTS:MKTAY) last issued its quarterly earnings results on Thursday, January 29th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. Makita had a return on equity of 7.85% and a net margin of 9.96%.The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.19 billion. Equities research analysts anticipate that Makita Corp. will post 1.56 earnings per share 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.