Makita (OTCMKTS:MKTAY) Sees Unusually-High Trading Volume – Time to Buy?

Makita Corp. (OTCMKTS:MKTAY) shares saw unusually-high trading volume on Thursday . Approximately 24,273 shares were traded 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

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

Makita Price Performance

The firm has a market cap of $8.93 billion, a price-to-earnings ratio of 17.87 and a beta of 0.60. The stock has a 50-day moving average price of $35.51 and a 200 day moving average price of $32.50.

Makita (OTCMKTS:MKTAY) last announced its earnings results on Thursday, January 29th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Makita had a return on equity of 7.85% and a net margin of 9.96%. As a group, equities research analysts predict that Makita Corp. will post 1.56 earnings per share for the current 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.