Makita (OTCMKTS:MKTAY) Sees Strong Trading Volume – Still a Buy?

Makita Corp. (OTCMKTS:MKTAY) shares saw unusually-strong trading volume on Thursday . Approximately 204,251 shares changed hands during trading, an increase of 1,060% from the previous session’s volume of 17,609 shares.The stock last traded at $27.09 and had previously closed at $27.04.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Makita from a “buy” rating to a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Makita Price Performance

The company has a 50-day simple moving average of $31.58 and a 200-day simple moving average of $31.72. The stock has a market cap of $7.22 billion, a PE ratio of 13.02 and a beta of 0.58.

Makita (OTCMKTS:MKTAY) last posted its quarterly earnings results on Friday, October 31st. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Makita had a net margin of 11.07% and a return on equity of 9.00%. On average, equities analysts expect that Makita Corp. will post 1.56 EPS for the current fiscal year.

Makita Company Profile

Makita Corporation engages in the manufacture and sale of electric power tools, pneumatic tools, and gardening and household equipment in Japan, Europe, North America, Asia, Australia, Brazil, and the United Arab Emirates. It offers cordless, drilling/fastening, impact drilling/demolition, grinding/sanding, sawing, planning/routering, pneumatic, outdoor power, and dust extraction/other equipment, as well as accessories; and cutting equipment for new materials, masonry, and metals.