Makita (OTCMKTS:MKTAY) Share Price Crosses Below 200 Day Moving Average – What’s Next?

Makita Corp. (OTCMKTS:MKTAY)’s stock price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $31.80 and traded as low as $29.0150. Makita shares last traded at $29.09, with a volume of 20,796 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Makita from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy”.

Makita Stock Performance

The company’s fifty day moving average price is $32.33 and its 200-day moving average price is $31.80. The stock has a market cap of $7.83 billion, a P/E ratio of 14.12 and a beta of 0.58.

Makita (OTCMKTS:MKTAY) last posted its quarterly earnings data 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. Makita had a net margin of 11.07% and a return on equity of 9.00%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.27 billion. Analysts anticipate that Makita Corp. will post 1.56 earnings per share 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.