Makita (OTCMKTS:MKTAY) Sees Large Volume Increase – Time to Buy?

Makita Corp. (OTCMKTS:MKTAY) shares saw strong trading volume on Wednesday . Approximately 74,519 shares changed hands during trading, an increase of 303% from the previous session’s volume of 18,476 shares.The stock last traded at $32.58 and had previously closed at $32.61.

Makita Stock Performance

The stock has a market cap of $8.66 billion, a price-to-earnings ratio of 15.98 and a beta of 0.61. The company has a 50-day moving average of $34.83 and a 200-day moving average of $35.34.

Makita (OTCMKTS:MKTAY) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.05. Makita had a return on equity of 8.21% and a net margin of 10.40%.The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.26 billion.

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.