Makita (OTCMKTS:MKTAY) Shares Gap Up – What’s Next?

Shares of Makita Corp. (OTCMKTS:MKTAY) gapped up prior to trading on Monday . The stock had previously closed at $34.11, but opened at $35.58. Makita shares last traded at $35.52, with a volume of 364 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Makita from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Makita currently has a consensus rating of “Buy”.

Makita Stock Performance

The company’s 50-day moving average is $32.85 and its 200-day moving average is $31.69. The firm has a market cap of $9.43 billion, a price-to-earnings ratio of 17.02 and a beta of 0.57.

Makita (OTCMKTS:MKTAY) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.12. Makita had a return on equity of 9.11% and a net margin of 11.07%.The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $187.49 billion. On average, analysts predict 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.