Makita (OTCMKTS:MKTAY) Shares Gap Up – Still a Buy?

Makita Corp. (OTCMKTS:MKTAY)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $31.95, but opened at $34.20. Makita shares last traded at $34.2250, with a volume of 1,615 shares trading hands.

Analyst Ratings Changes

MKTAY has been the subject of a number of recent research reports. The Goldman Sachs Group lowered Makita from a “hold” rating to a “sell” rating in a research note on Wednesday, January 14th. Wall Street Zen raised Makita from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Makita has an average rating of “Reduce”.

Makita Stock Up 4.7%

The stock has a market cap of $9.08 billion, a PE ratio of 18.16 and a beta of 0.53. The business’s 50-day simple moving average is $35.45 and its 200-day simple moving average is $32.49.

Makita (OTCMKTS:MKTAY) last posted its earnings results on Thursday, January 29th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. Makita had a net margin of 9.96% and a return on equity of 7.85%. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.19 billion. As a group, 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.