Makita (OTCMKTS:MKTAY) Shares Gap Up - Time to Buy?

Shares of Makita Corp. (OTCMKTS:MKTAY - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $30.43, but opened at $32.61. Makita shares last traded at $32.61, with a volume of 9,793 shares trading hands.

Wall Street Analysts Forecast Growth

MKTAY has been the subject of a number of analyst reports. Wall Street Zen raised shares of Makita from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Citigroup downgraded Makita from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th.

Makita Trading Up 0.5%

The stock's 50 day moving average price is $30.52 and its 200 day moving average price is $30.80. The company has a market cap of $8.73 billion, a price-to-earnings ratio of 17.84 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 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.21. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $186.50 billion. Makita had a return on equity of 8.16% and a net margin of 10.05%. On average, 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.