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

Key Points

• Makita Corp. shares gapped up from $34.11 to $35.58 at market open, with the latest trading price at $35.52 and a trade volume of 364 shares.
• Wall Street Zen upgraded Makita's rating from "hold" to "buy", contributing to an average stock rating of "Buy" from analysts.
• In its last earnings report, Makita reported $0.50 EPS, exceeding expectations, with revenue of $1.26 billion for the quarter.

Makita Corp. (OTCMKTS:MKTAY - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $34.11, but opened at $35.58. Makita shares last traded at $35.52, with a volume of 364 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Makita from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy".

Makita Trading Up 2.8%

The company's 50 day moving average price is $32.85 and its two-hundred day moving average price is $31.69. The firm has a market cap of $9.43 billion, a PE ratio of 17.02 and a beta of 0.57.

Makita (OTCMKTS:MKTAY - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.12. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $187.49 billion. Makita had a return on equity of 9.11% and a net margin of 11.07%. Equities research 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.

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