MasTec (MTZ) PT Raised to $52.00 at Robert W. Baird

MasTec (NYSE:MTZ) had its price objective boosted by stock analysts at Robert W. Baird from $51.00 to $52.00 in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the construction company’s stock. Robert W. Baird’s price target points to a potential upside of 8.95% from the stock’s previous close.

Several other research firms also recently weighed in on MTZ. Citigroup reiterated a “buy” rating on shares of MasTec in a research note on Thursday, August 30th. Zacks Investment Research upgraded MasTec from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, August 8th. ValuEngine upgraded MasTec from a “sell” rating to a “hold” rating in a research note on Thursday, August 30th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $65.00 price target on shares of MasTec in a research note on Friday, August 3rd. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $60.64.

Shares of NYSE:MTZ opened at $47.73 on Friday. MasTec has a 1 year low of $39.83 and a 1 year high of $55.53. The stock has a market cap of $3.83 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 1.69 and a beta of 1.43. The company has a current ratio of 1.82, a quick ratio of 1.74 and a debt-to-equity ratio of 1.07.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, November 1st. The construction company reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.13. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.99 billion. MasTec had a return on equity of 17.25% and a net margin of 5.89%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 EPS. Research analysts expect that MasTec will post 3.53 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. grew its stake in MasTec by 74.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 7,371 shares of the construction company’s stock valued at $329,000 after purchasing an additional 3,144 shares during the last quarter. Chicago Equity Partners LLC grew its stake in MasTec by 4.7% during the 3rd quarter. Chicago Equity Partners LLC now owns 97,750 shares of the construction company’s stock valued at $4,365,000 after purchasing an additional 4,420 shares during the last quarter. Sterling Capital Management LLC grew its stake in MasTec by 1.4% during the 3rd quarter. Sterling Capital Management LLC now owns 784,988 shares of the construction company’s stock valued at $35,050,000 after purchasing an additional 10,570 shares during the last quarter. Community Trust & Investment Co. grew its stake in MasTec by 19.3% during the 3rd quarter. Community Trust & Investment Co. now owns 368,031 shares of the construction company’s stock valued at $16,433,000 after purchasing an additional 59,618 shares during the last quarter. Finally, US Bancorp DE boosted its stake in shares of MasTec by 7.0% in the third quarter. US Bancorp DE now owns 51,029 shares of the construction company’s stock worth $2,279,000 after buying an additional 3,349 shares during the last quarter. Institutional investors and hedge funds own 83.30% 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, and utility infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.

Featured Article: Understanding Market Liquidity

Analyst Recommendations for MasTec (NYSE:MTZ)

Receive News & Ratings for MasTec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MasTec and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply