Barclays Increases MasTec (NYSE:MTZ) Price Target to $115.00

MasTec (NYSE:MTZGet Rating) had its price objective increased by stock analysts at Barclays from $100.00 to $115.00 in a research note issued on Friday, The Fly reports. The firm presently has an “overweight” rating on the construction company’s stock. Barclays‘s price objective would indicate a potential upside of 17.30% from the company’s previous close.

MTZ has been the subject of a number of other research reports. Cowen lowered their price objective on shares of MasTec from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Tuesday, December 27th. Cowen lowered their price objective on shares of MasTec from $125.00 to $120.00 in a research report on Tuesday, December 27th. Citigroup increased their price objective on shares of MasTec from $90.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, November 7th. Credit Suisse Group raised their price target on shares of MasTec from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, November 7th. Finally, B. Riley raised their price target on shares of MasTec from $90.00 to $112.00 in a research report on Monday, November 7th. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $110.30.

MasTec Stock Up 1.5 %

Shares of NYSE MTZ opened at $98.04 on Friday. The company has a 50 day simple moving average of $89.11 and a 200-day simple moving average of $80.47. The company has a market capitalization of $7.71 billion, a P/E ratio of 69.04 and a beta of 1.38. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.57 and a quick ratio of 1.50. MasTec has a 1 year low of $62.36 and a 1 year high of $98.28.

MasTec (NYSE:MTZGet Rating) last announced its quarterly earnings results on Thursday, November 3rd. The construction company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.54 billion. MasTec had a net margin of 1.24% and a return on equity of 9.21%. On average, equities research analysts predict that MasTec will post 2.79 earnings per share for the current year.

Institutional Investors Weigh In On MasTec

Institutional investors have recently modified their holdings of the company. Yousif Capital Management LLC lifted its position in shares of MasTec by 4.0% during the 2nd quarter. Yousif Capital Management LLC now owns 33,167 shares of the construction company’s stock worth $2,377,000 after purchasing an additional 1,265 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in MasTec by 6.0% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 32,495 shares of the construction company’s stock worth $2,329,000 after acquiring an additional 1,830 shares in the last quarter. Ronald Blue Trust Inc. acquired a new stake in MasTec during the 2nd quarter worth $29,000. Frontier Capital Management Co. LLC raised its stake in MasTec by 17.0% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,370,048 shares of the construction company’s stock worth $98,178,000 after acquiring an additional 199,039 shares in the last quarter. Finally, US Bancorp DE raised its stake in MasTec by 1.0% during the 2nd quarter. US Bancorp DE now owns 52,522 shares of the construction company’s stock worth $3,764,000 after acquiring an additional 510 shares in the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

About MasTec

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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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