Makita (OTCMKTS:MKTAY) Sees Large Volume Increase – Time to Buy?

Makita Corp. (OTCMKTS:MKTAY) saw unusually-strong trading volume on Friday . Approximately 36,865 shares changed hands during trading, an increase of 109% from the previous session’s volume of 17,651 shares.The stock last traded at $35.90 and had previously closed at $34.96.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Makita from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd.

Makita Price Performance

The firm’s 50-day simple moving average is $31.34 and its two-hundred day simple moving average is $31.21. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of 17.49 and a beta of 0.63.

Makita (OTCMKTS:MKTAY) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.12. Makita had a return on equity of 9.11% and a net margin of 11.07%. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $187.49 billion. On average, analysts expect that Makita Corp. will post 1.56 EPS for the current fiscal 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.