Makita (OTCMKTS:MKTAY) Sees Large Volume Increase - What's Next?

Key Points

• Makita shares experienced a significant trading volume increase of 109%, reaching approximately 36,865 shares traded, with the stock price rising to $35.90.
• Wall Street analysts upgraded Makita from a "hold" to a "buy" rating in a research note published on August 2nd.
• In its last quarterly earnings report, Makita delivered an earnings per share (EPS) of $0.50, exceeding expectations by $0.12, with revenue reaching $1.26 billion.

Shares of Makita Corp. (OTCMKTS:MKTAY - Get Free Report) saw an uptick in trading volume on Friday . 36,865 shares traded hands during trading, an increase of 109% from the previous session's volume of 17,651 shares.The stock last traded at $35.90 and had previously closed at $34.96.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Makita from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Makita currently has an average rating of "Buy".

Makita Stock Down 0.5%

The firm has a market capitalization of $9.52 billion, a P/E ratio of 17.17 and a beta of 0.63. The company has a fifty day simple moving average of $31.57 and a 200 day simple moving average of $31.28.

Makita (OTCMKTS:MKTAY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.12. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $187.49 billion. Makita had a return on equity of 9.11% and a net margin of 11.07%. As a group, equities analysts expect that Makita Corp. will post 1.56 earnings per share for the current fiscal year.

About Makita

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.