MasTec (NYSE:MTZ) Price Target Raised to $120.00

MasTec (NYSE:MTZ – Get Rating) had its price target raised by equities researchers at Cowen from $110.00 to $120.00 in a note issued to investors on Thursday, Stock Target Advisor reports. Cowen’s price target points to a potential upside of 44.32% from the stock’s previous close.

A number of other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of MasTec from a “hold” rating to a “sell” rating and set a $76.00 price target for the company. in a research report on Monday, May 2nd. TheStreet cut MasTec from a “b-” rating to a “c” rating in a research note on Monday, May 16th. Craig Hallum reduced their price objective on MasTec from $139.00 to $108.00 in a research note on Monday, February 28th. Robert W. Baird reduced their price objective on MasTec from $100.00 to $96.00 in a research note on Monday, May 9th. Finally, Barclays reduced their price objective on MasTec from $140.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $106.83.

NYSE:MTZ traded up $1.95 during trading hours on Thursday, hitting $83.15. The stock had a trading volume of 5,932 shares, compared to its average volume of 669,859. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.71. MasTec has a 1-year low of $70.72 and a 1-year high of $122.33. The business has a 50 day simple moving average of $80.00 and a two-hundred day simple moving average of $86.65. The company has a market cap of $6.31 billion, a PE ratio of 27.04 and a beta of 1.27.

MasTec (NYSE:MTZ – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The construction company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.17. MasTec had a net margin of 2.81% and a return on equity of 12.91%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the company earned $1.04 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. Research analysts expect that MasTec will post 4.04 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its stake in shares of MasTec by 2.4% during the first quarter. BlackRock Inc. now owns 5,616,160 shares of the construction company’s stock valued at $489,168,000 after purchasing an additional 134,201 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of MasTec by 8.8% during the first quarter. Vanguard Group Inc. now owns 5,519,211 shares of the construction company’s stock valued at $480,724,000 after purchasing an additional 447,376 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of MasTec by 21.8% during the first quarter. Nordea Investment Management AB now owns 3,160,052 shares of the construction company’s stock valued at $273,123,000 after purchasing an additional 565,274 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of MasTec during the fourth quarter valued at about $231,287,000. Finally, Legacy Advisors LLC bought a new stake in shares of MasTec during the first quarter valued at about $138,946,000. Institutional investors own 68.44% of the company’s stock.

About MasTec (Get Rating)

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other segments.

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