MasTec (NYSE:MTZ) PT Raised to $110.00 at TD Cowen

MasTec (NYSE:MTZ) had its price objective boosted by TD Cowen from $105.00 to $110.00 in a research report issued on Monday, Briefing.com reports. The firm presently has a “buy” rating on the construction company’s stock. TD Cowen’s price objective suggests a potential upside of 8.06% from the company’s previous close.

A number of other brokerages have also recently weighed in on MTZ. UBS Group lifted their price objective on shares of MasTec from $89.00 to $92.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Robert W. Baird lifted their price objective on shares of MasTec from $70.00 to $89.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Barclays lifted their price objective on shares of MasTec from $55.00 to $106.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Citigroup boosted their price target on shares of MasTec from $99.00 to $104.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Finally, KeyCorp boosted their price target on shares of MasTec from $92.00 to $97.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $98.85.

MasTec Price Performance

Shares of MTZ stock opened at $101.80 on Monday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.31 and a quick ratio of 1.27. The firm’s 50-day moving average is $87.95 and its two-hundred day moving average is $73.09. MasTec has a 12 month low of $44.65 and a 12 month high of $123.33. The company has a market capitalization of $8.09 billion, a PE ratio of -727.14 and a beta of 1.61.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.20. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.19%. Analysts predict that MasTec will post 2.33 earnings per share for the current year.

Institutional Investors Weigh In On MasTec

Large investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in shares of MasTec during the 4th quarter worth about $37,000. Headlands Technologies LLC purchased a new position in shares of MasTec during the 3rd quarter worth about $41,000. Itau Unibanco Holding S.A. purchased a new position in shares of MasTec during the 3rd quarter worth about $43,000. CWM LLC lifted its holdings in shares of MasTec by 59.4% during the 4th quarter. CWM LLC now owns 837 shares of the construction company’s stock worth $63,000 after acquiring an additional 312 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in shares of MasTec by 30.9% during the 4th quarter. Quadrant Capital Group LLC now owns 897 shares of the construction company’s stock worth $68,000 after acquiring an additional 212 shares during the period. 78.10% of the stock is owned by institutional investors and hedge funds.

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.