Makita Co. (OTCMKTS:MKTAY) Short Interest Down 17.2% in July

Makita Co. (OTCMKTS:MKTAY) was the recipient of a large decrease in short interest in the month of July. As of July 15th, there was short interest totalling 2,400 shares, a decrease of 17.2% from the June 30th total of 2,900 shares. Based on an average daily volume of 166,800 shares, the short-interest ratio is currently 0.0 days.

Makita Price Performance

OTCMKTS:MKTAY traded up $0.52 during midday trading on Monday, reaching $29.67. 11,688 shares of the company traded hands, compared to its average volume of 14,846. Makita has a twelve month low of $23.38 and a twelve month high of $31.88. The company has a fifty day moving average price of $29.05 and a 200 day moving average price of $27.99. The firm has a market capitalization of $7.98 billion, a price-to-earnings ratio of 26.26 and a beta of 0.77.

Makita (OTCMKTS:MKTAY) last released its earnings results on Friday, April 26th. The company reported $0.28 earnings per share for the quarter. Makita had a return on equity of 5.12% and a net margin of 5.89%. The firm had revenue of $1.28 billion during the quarter. On average, equities research analysts forecast that Makita will post 1.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upgraded shares of Makita from a “neutral” rating to a “buy” rating in a research note on Monday, July 1st.

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.