Makita (OTCMKTS:MKTAY) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Makita Corp. (OTCMKTS:MKTAY) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $32.57 and traded as low as $32.22. Makita shares last traded at $32.40, with a volume of 12,443 shares trading hands.

Analyst Upgrades and Downgrades

MKTAY has been the subject of a number of research analyst reports. The Goldman Sachs Group downgraded Makita from a “hold” rating to a “sell” rating in a research report on Wednesday, January 14th. Wall Street Zen upgraded 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Makita Stock Performance

The company has a market capitalization of $8.44 billion, a price-to-earnings ratio of 16.87 and a beta of 0.53. The stock’s fifty day simple moving average is $35.39 and its two-hundred day simple moving average is $32.55.

Makita (OTCMKTS:MKTAY) last posted its quarterly earnings data on Thursday, January 29th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate 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. On average, equities analysts anticipate that Makita Corp. will post 1.56 EPS for the current fiscal year.

Makita Company Profile

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.