Makita (OTCMKTS:MKTAY) Shares Gap Up - What's Next?

Key Points

• Makita Corp.'s stock price increased from $32.59 to $33.34 before settling at $32.73, marking a significant gap up in trading.
• Wall Street analysts upgraded Makita from a "hold" to a "buy" rating, with a consensus rating of "Buy" based on their recent analysis.
• In its latest earnings report, Makita exceeded expectations by posting $0.50 EPS against a consensus of $0.38, with revenue totaling $1.26 billion.

Makita Corp. (OTCMKTS:MKTAY - Get Free Report)'s stock price gapped up before the market opened on Thursday . The stock had previously closed at $32.59, but opened at $33.34. Makita shares last traded at $32.73, with a volume of 544 shares.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Makita from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Makita has a consensus rating of "Buy".

Makita Stock Up 2.1%

The stock's 50-day moving average price is $33.69 and its 200 day moving average price is $31.84. The firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of 16.15 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 analysts' expectations of $187.49 billion. Makita had a net margin of 11.07% and a return on equity of 9.11%. On average, sell-side analysts anticipate that Makita Corp. will post 1.56 earnings per share 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.

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