Makita (OTCMKTS:MKTAY) Sees Large Volume Increase – Here’s What Happened

Makita Corp. (OTCMKTS:MKTAY) saw unusually-strong trading volume on Thursday . Approximately 24,273 shares changed hands during trading, an increase of 25% from the previous session’s volume of 19,392 shares.The stock last traded at $33.32 and had previously closed at $32.77.

Analyst Ratings Changes

Several equities analysts recently issued reports on MKTAY shares. The Goldman Sachs Group downgraded Makita from a “hold” rating to a “sell” rating in a research report on Wednesday, January 14th. Wall Street Zen upgraded shares of Makita from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Makita currently has a consensus rating of “Reduce”.

Makita Stock Performance

The firm’s fifty day simple moving average is $35.62 and its two-hundred day simple moving average is $32.50. The company has a market capitalization of $8.92 billion, a price-to-earnings ratio of 17.84 and a beta of 0.60.

Makita (OTCMKTS:MKTAY) last posted its earnings results on Thursday, January 29th. The company reported $0.46 EPS for the quarter, beating 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%. As a group, 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.