Makita (OTCMKTS:MKTAY) Shares Gap Down - Here's Why

Key Points

• Makita's shares gapped down from a closing price of $31.90 to an opening price of $30.63 before trading on Friday, with a volume of only 202 shares traded.
• Wall Street analysts recently upgraded Makita's rating from "hold" to "buy", resulting in a consensus rating of "buy" for the stock.
• In its latest earnings report, Makita reported a profit of $0.50 EPS, surpassing estimates of $0.38, and recorded revenue of $1.26 billion for the quarter.

Makita Corp. (OTCMKTS:MKTAY - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $31.90, but opened at $30.63. Makita shares last traded at $30.63, with a volume of 202 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Makita from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. One equities 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 company presently has a consensus rating of "Buy".

Makita Price Performance

The stock has a market capitalization of $8.20 billion, a PE ratio of 14.80 and a beta of 0.59. The company has a 50 day moving average price of $33.93 and a 200-day moving average price of $31.57.

Makita (OTCMKTS:MKTAY - Get Free Report) last released its 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. Makita had a return on equity of 9.11% and a net margin of 11.07%.The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $187.49 billion. As a group, equities analysts anticipate that Makita Corp. will post 1.56 earnings per share for the current 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.

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