Robert W. Baird Raises MasTec (NYSE:MTZ) Price Target to $110.00

MasTec (NYSE:MTZ) had its target price upped by analysts at Robert W. Baird from $89.00 to $110.00 in a report released on Monday, Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. Robert W. Baird’s price target suggests a potential upside of 8.06% from the stock’s previous close.

Other research analysts have also issued reports about the stock. UBS Group lifted their price objective on shares of MasTec from $89.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. The Goldman Sachs Group increased their price objective on shares of MasTec from $54.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Citigroup boosted their target price on MasTec from $99.00 to $104.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. TD Cowen increased their price target on MasTec from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Monday. Finally, DA Davidson restated a “buy” rating and set a $70.00 price objective on shares of MasTec in a report on Monday, March 4th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $98.85.

MasTec Stock Performance

Shares of NYSE:MTZ opened at $101.80 on Monday. The firm has a fifty day simple moving average of $87.95 and a two-hundred day simple moving average of $73.09. The company has a quick ratio of 1.27, a current ratio of 1.31 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $8.09 billion, a P/E ratio of -727.14 and a beta of 1.61. MasTec has a 52 week low of $44.65 and a 52 week high of $123.33.

MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, February 29th. The construction company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.20. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%. On average, analysts expect that MasTec will post 2.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MasTec

Several large investors have recently modified their holdings of the business. Texas Permanent School Fund Corp increased its holdings in MasTec by 1.6% during the first quarter. Texas Permanent School Fund Corp now owns 52,806 shares of the construction company’s stock valued at $4,924,000 after buying an additional 817 shares during the period. Jennison Associates LLC bought a new stake in MasTec during the 1st quarter valued at $231,000. Janney Montgomery Scott LLC purchased a new position in shares of MasTec in the 1st quarter valued at $463,000. BNP Paribas Financial Markets raised its position in shares of MasTec by 156.6% in the 1st quarter. BNP Paribas Financial Markets now owns 19,359 shares of the construction company’s stock worth $1,805,000 after acquiring an additional 11,816 shares in the last quarter. Finally, Van ECK Associates Corp bought a new position in shares of MasTec in the 1st quarter worth $9,163,000. 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.