Makita (OTCMKTS:MKTAY) Share Price Passes Below 200 Day Moving Average – Here’s Why

Shares of Makita Corp. (OTCMKTS:MKTAY) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $31.82 and traded as low as $30.98. Makita shares last traded at $31.93, with a volume of 11,957 shares trading hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Makita from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

Makita Stock Down 0.9%

The firm has a 50 day simple moving average of $32.96 and a two-hundred day simple moving average of $31.82. The stock has a market capitalization of $8.59 billion, a P/E ratio of 15.50 and a beta of 0.59.

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

About Makita

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.