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

MasTec (NYSE:MTZ) had its price target hoisted by equities researchers at Barclays from $130.00 to $145.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. Barclays‘s target price indicates a potential upside of 13.25% from the company’s current price.

Several other equities research analysts have also recently issued reports on the company. Stifel Nicolaus reduced their target price on MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Monday. B. Riley reaffirmed a “buy” rating and issued a $166.00 price objective (up previously from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Guggenheim began coverage on MasTec in a research report on Wednesday, January 8th. They set a “buy” rating and a $195.00 target price for the company. KeyCorp raised their target price on shares of MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Finally, TD Cowen increased 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 investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $160.14.

MasTec Stock Up 3.3 %

Shares of MTZ opened at $128.03 on Tuesday. The business’s 50 day moving average is $141.10 and its 200 day moving average is $131.97. 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 12-month low of $82.29 and a 12-month high of $166.95. The company has a market capitalization of $10.14 billion, a PE ratio of 114.31 and a beta of 1.73.

MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $3.32 billion. Research analysts expect that MasTec will post 3.44 earnings per share for the current fiscal year.

Institutional Trading of MasTec

Several institutional investors have recently added to or reduced their stakes in the company. Creative Planning lifted its position in shares of MasTec by 9.5% during the third quarter. Creative Planning now owns 2,909 shares of the construction company’s stock worth $358,000 after purchasing an additional 253 shares during the last quarter. Private Advisor Group LLC lifted its holdings in MasTec by 89.6% during the 3rd quarter. Private Advisor Group LLC now owns 3,956 shares of the construction company’s stock valued at $487,000 after buying an additional 1,869 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in MasTec in the 3rd quarter valued at about $84,000. Wealth Enhancement Advisory Services LLC grew its stake in MasTec by 239.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,157 shares of the construction company’s stock worth $1,127,000 after acquiring an additional 6,462 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in MasTec by 7.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 7,013 shares of the construction company’s stock worth $863,000 after acquiring an additional 485 shares in the last quarter. 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.