MasTec (NYSE:MTZ) Upgraded at StockNews.com

MasTec (NYSE:MTZ) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Several other analysts also recently issued reports on MTZ. Citigroup lifted their price target on shares of MasTec from $99.00 to $104.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. The Goldman Sachs Group lifted their price target on shares of MasTec from $54.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Craig Hallum lifted their price target on shares of MasTec from $96.00 to $125.00 and gave the company a “buy” rating in a research report on Monday. DA Davidson reissued a “buy” rating and issued a $70.00 price target on shares of MasTec in a research report on Monday, March 4th. Finally, KeyCorp lifted their price objective on shares of MasTec from $104.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $111.08.

MasTec Stock Performance

NYSE:MTZ opened at $105.67 on Monday. The company has a fifty day moving average of $89.26 and a 200-day moving average of $73.70. The firm has a market capitalization of $8.40 billion, a P/E ratio of -754.79 and a beta of 1.61. The company has a quick ratio of 1.27, a current ratio of 1.31 and a debt-to-equity ratio of 0.94. MasTec has a twelve month low of $44.65 and a twelve month high of $123.33.

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

Hedge Funds Weigh In On MasTec

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

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.