Makita (OTCMKTS:MKTAY) Stock Crosses Below Two Hundred Day Moving Average – Here’s Why

Makita Corp. (OTCMKTS:MKTAY) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $31.60 and traded as low as $27.90. Makita shares last traded at $28.20, with a volume of 18,064 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Makita from a “buy” rating to a “hold” rating in a research note on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy”.

Makita Stock Performance

The company has a market cap of $7.59 billion, a P/E ratio of 14.03 and a beta of 0.52. The stock has a 50 day moving average price of $30.53 and a 200 day moving average price of $31.60.

Makita (OTCMKTS:MKTAY) last released its earnings results on Friday, October 31st. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Makita had a return on equity of 8.53% and a net margin of 10.72%.The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.27 billion. As a group, equities research analysts predict that Makita Corp. will post 1.56 earnings per share for the current 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.