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

A number of equities analysts have recently commented on MKTAY shares. 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, July 12th.

Makita Stock Down 0.8%

The firm has a market capitalization of $8.62 billion, a P/E ratio of 17.60 and a beta of 0.65. The firm's 50-day simple moving average is $30.50 and its 200-day simple moving average is $30.77.

Makita (OTCMKTS:MKTAY - Get Free Report) last announced its earnings results on Monday, April 28th. The company reported $0.43 earnings per share (EPS) 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 8.16%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $186.50 billion. As a group, analysts expect that Makita Corp. will post 1.56 EPS 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.