Citigroup Forecasts Strong Price Appreciation for MasTec (NYSE:MTZ) Stock

MasTec (NYSE:MTZ) had its target price increased by Citigroup from $156.00 to $167.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

A number of other equities research analysts also recently weighed in on MTZ. Guggenheim began coverage on MasTec in a research note on Wednesday, January 8th. They set a “buy” rating and a $195.00 price target for the company. B. Riley reissued a “buy” rating and set a $166.00 price objective (up previously from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Craig Hallum increased their price objective on MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 4th. Robert W. Baird lowered their price objective on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. increased their price objective on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, MasTec currently has a consensus rating of “Moderate Buy” and an average target price of $160.14.

MasTec Stock Up 3.3 %

Shares of MasTec stock opened at $128.03 on Monday. The stock has a 50-day moving average price of $141.10 and a 200 day moving average price of $131.97. The company has a market cap of $10.14 billion, a P/E ratio of 114.31 and a beta of 1.73. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. MasTec has a 1 year low of $82.29 and a 1 year high of $166.95.

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

Institutional Trading of MasTec

A number of hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. lifted its position in shares of MasTec by 65.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock worth $278,312,000 after acquiring an additional 895,227 shares during the period. State Street Corp lifted its position in shares of MasTec by 1.4% in 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 lifted its position in shares of MasTec by 3.5% in the 4th quarter. Hood River Capital Management LLC now owns 1,531,104 shares of the construction company’s stock worth $208,444,000 after acquiring an additional 51,531 shares during the period. Geode Capital Management LLC lifted its position 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 worth $126,370,000 after acquiring an additional 16,844 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of MasTec by 13.3% in the 4th quarter. AQR Capital Management LLC now owns 779,472 shares of the construction company’s stock worth $106,117,000 after acquiring an additional 91,564 shares during the period. Institutional investors own 78.10% of the company’s stock.

MasTec Company Profile

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.