Makita (OTCMKTS:MKTAY) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Shares of Makita Corp. (OTCMKTS:MKTAY) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $31.55 and traded as low as $30.55. Makita shares last traded at $30.60, with a volume of 15,897 shares.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Makita from a “buy” rating to a “hold” rating in a report 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy”.

Makita Trading Down 0.3%

The business has a 50-day moving average of $30.05 and a 200 day moving average of $31.55. The firm has a market capitalization of $8.23 billion, a P/E ratio of 15.22 and a beta of 0.52.

Makita (OTCMKTS:MKTAY) last announced its quarterly earnings data on Friday, October 31st. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Makita had a return on equity of 8.53% and a net margin of 10.72%. As a group, research analysts forecast that Makita Corp. will post 1.56 EPS 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.