MasTec (NYSE:MTZ) Stock Price Expected to Rise, Barclays Analyst Says

MasTec (NYSE:MTZ) had its price objective upped by equities researchers at Barclays from $130.00 to $145.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. Barclays‘s target price indicates a potential upside of 13.67% from the stock’s previous close.

MTZ has been the subject of a number of other reports. Stifel Nicolaus cut their target price on MasTec from $185.00 to $175.00 and set a “buy” rating for the company in a research report on Monday. Guggenheim initiated coverage on MasTec in a report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 price objective for the company. B. Riley reaffirmed a “buy” rating and set a $166.00 target price (up previously from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Craig Hallum boosted their price target on shares of MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, TD Cowen raised their price objective on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $160.14.

MasTec Trading Down 2.3 %

NYSE:MTZ opened at $127.56 on Tuesday. The stock has a market cap of $10.11 billion, a price-to-earnings ratio of 113.89 and a beta of 1.73. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. MasTec has a 1 year low of $82.29 and a 1 year high of $166.95. The business has a fifty day moving average of $141.39 and a 200-day moving average of $131.88.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.08. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.32 billion. Equities analysts predict that MasTec will post 3.44 earnings per share for the current year.

Hedge Funds Weigh In On MasTec

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position in shares of MasTec by 65.6% in the third quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock worth $278,312,000 after buying an additional 895,227 shares during the period. State Street Corp boosted its position in MasTec by 1.4% during the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after acquiring an additional 24,522 shares during the period. Hood River Capital Management LLC grew its stake in MasTec by 3.5% during the 4th quarter. Hood River Capital Management LLC now owns 1,531,104 shares of the construction company’s stock valued at $208,444,000 after acquiring an additional 51,531 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of MasTec by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock valued at $126,370,000 after purchasing an additional 16,844 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of MasTec by 13.3% during the fourth quarter. AQR Capital Management LLC now owns 779,472 shares of the construction company’s stock worth $106,117,000 after purchasing an additional 91,564 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

About MasTec

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 five segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.