Makita (OTCMKTS:MKTAY) Sees Large Volume Increase - Here's Why

Key Points

• Makita Corp. (OTCMKTS:MKTAY) experienced a modest increase in trading volume, rising from 18,255 to 18,553 shares traded on Tuesday, with the stock price currently at $31.20.
• Recent ratings from analysts show a bearish shift, with Citigroup and Wall Street Zen both downgrading Makita from a "strong-buy" or "buy" rating to a "hold" rating.
• The company reported quarterly earnings of $0.43 per share, significantly exceeding the estimated $0.22, along with a revenue of $1.29 billion against a consensus estimate of $186.50 billion.

Shares of Makita Corp. (OTCMKTS:MKTAY - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 18,553 shares traded hands during mid-day trading, an increase of 2% from the previous session's volume of 18,255 shares.The stock last traded at $31.20 and had previously closed at $31.33.

Analysts Set New Price Targets

MKTAY has been the subject of a number of analyst reports. Citigroup lowered shares of Makita from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. Wall Street Zen upgraded shares of Makita from a "hold" rating to a "buy" rating in a research report on Saturday.

Makita Price Performance

The stock has a market capitalization of $8.69 billion, a PE ratio of 15.68 and a beta of 0.63. The firm's 50 day simple moving average is $30.61 and its 200 day simple moving average is $30.89.

Makita (OTCMKTS:MKTAY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.38 by $0.12. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $187.49 billion. Makita had a net margin of 11.07% and a return on equity of 9.11%. 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.