Analysts Set MasTec, Inc. (NYSE:MTZ) Price Target at $96.46

Shares of MasTec, Inc. (NYSE:MTZ) have been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $96.85.

Several analysts have recently issued reports on the company. Barclays upped their price objective on MasTec from $55.00 to $106.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. TD Cowen increased their price objective on shares of MasTec from $85.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. UBS Group boosted their target price on shares of MasTec from $89.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Robert W. Baird increased their price target on shares of MasTec from $70.00 to $89.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Finally, The Goldman Sachs Group lifted their price target on MasTec from $54.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th.

MasTec Stock Up 3.3 %

NYSE MTZ opened at $86.55 on Friday. MasTec has a 52 week low of $44.65 and a 52 week high of $123.33. The company has a quick ratio of 1.36, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $6.88 billion, a P/E ratio of -131.14 and a beta of 1.62. The stock’s 50-day moving average price is $84.67 and its 200-day moving average price is $71.66.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.20. MasTec had a negative net margin of 0.42% and a positive return on equity of 4.82%. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. On average, equities research analysts predict that MasTec will post 2.33 earnings per share for the current year.

Institutional Trading of MasTec

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nordea Investment Management AB increased its holdings in MasTec by 35.0% during the 4th quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company’s stock worth $297,006,000 after purchasing an additional 1,027,085 shares during the period. CI Investments Inc. increased its stake in shares of MasTec by 44,834.1% during the third quarter. CI Investments Inc. now owns 798,029 shares of the construction company’s stock valued at $57,434,000 after buying an additional 796,253 shares during the period. Norges Bank bought a new stake in shares of MasTec in the fourth quarter valued at about $46,970,000. Point72 Asset Management L.P. lifted its stake in MasTec by 96.4% in the fourth quarter. Point72 Asset Management L.P. now owns 1,022,700 shares of the construction company’s stock worth $77,439,000 after acquiring an additional 502,039 shares during the period. Finally, Schonfeld Strategic Advisors LLC grew its holdings in MasTec by 7,110.3% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 359,144 shares of the construction company’s stock worth $25,848,000 after acquiring an additional 354,163 shares in the last quarter. Hedge funds and other 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.