Makita (OTCMKTS:MKTAY) Shares Gap Up - Here's What Happened

Makita Corp. (OTCMKTS:MKTAY - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $30.98, but opened at $32.11. Makita shares last traded at $32.11, with a volume of 179 shares traded.

Analyst Ratings Changes

A number of research firms have recently commented on MKTAY. Wall Street Zen lowered shares of Makita from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Citigroup cut shares of Makita from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th.

Makita Stock Up 1.9%

The firm has a 50 day moving average of $30.24 and a 200 day moving average of $30.72. The firm has a market cap of $8.49 billion, a price-to-earnings ratio of 17.34 and a beta of 0.65.

Makita (OTCMKTS:MKTAY - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.21. Makita had a net margin of 10.05% and a return on equity of 8.22%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $186.50 billion. Equities analysts expect 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.