Makita (OTCMKTS:MKTAY) Downgraded by Wall Street Zen to “Hold”

Makita (OTCMKTS:MKTAY) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

Separately, The Goldman Sachs Group lowered shares of Makita from a “hold” rating to a “sell” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Makita presently has an average rating of “Hold”.

Makita Stock Up 1.1%

Shares of OTCMKTS:MKTAY traded up $0.35 during midday trading on Friday, reaching $31.40. 13,468 shares of the company traded hands, compared to its average volume of 15,275. Makita has a 12 month low of $25.56 and a 12 month high of $39.05. The firm’s fifty day moving average price is $29.92 and its two-hundred day moving average price is $31.70. The firm has a market capitalization of $8.45 billion, a price-to-earnings ratio of 15.62 and a beta of 0.52.

Makita (OTCMKTS:MKTAY) last announced its quarterly earnings results on Friday, October 31st. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.27 billion. Makita had a net margin of 10.72% and a return on equity of 8.53%. Analysts forecast that Makita 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.