Makita (OTCMKTS:MKTAY) Stock Price Passes Above 50-Day Moving Average – Time to Sell?

Makita Corp. (OTCMKTS:MKTAY)’s stock price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $30.17 and traded as high as $31.2260. Makita shares last traded at $30.6075, with a volume of 11,335 shares.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wall Street Zen cut Makita from a “buy” rating to a “hold” rating in a report on Sunday, January 18th. The Goldman Sachs Group downgraded shares of Makita from a “hold” rating to a “sell” rating in a report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Makita Stock Down 0.9%

The firm has a market cap of $8.10 billion, a PE ratio of 15.23 and a beta of 0.52. The company has a 50-day simple moving average of $30.17 and a two-hundred day simple moving average of $31.70.

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

About Makita

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.