MasTec (NYSE:MTZ) Price Target Raised to $104.00 at Citigroup

MasTec (NYSE:MTZ) had its price target raised by Citigroup from $99.00 to $104.00 in a research note released on Monday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

A number of other research firms also recently issued reports on MTZ. KeyCorp increased their price objective on MasTec from $92.00 to $97.00 and gave the stock an overweight rating in a report on Monday, March 4th. UBS Group increased their price objective on MasTec from $89.00 to $92.00 and gave the stock a buy rating in a report on Friday, February 2nd. Barclays increased their price target on MasTec from $55.00 to $106.00 and gave the company an overweight rating in a research report on Tuesday, March 5th. Robert W. Baird increased their price target on MasTec from $70.00 to $89.00 and gave the company a neutral rating in a research report on Monday, March 4th. Finally, The Goldman Sachs Group increased their price target on MasTec from $54.00 to $61.00 and gave the company a neutral rating in a research report on Friday, February 9th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, MasTec currently has an average rating of Moderate Buy and a consensus price target of $96.85.

MasTec Stock Up 1.2 %

NYSE:MTZ opened at $86.22 on Monday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.36 and a current ratio of 1.40. The company has a market cap of $6.85 billion, a PE ratio of -130.64 and a beta of 1.62. MasTec has a 52-week low of $44.65 and a 52-week high of $123.33. The stock has a 50-day simple moving average of $85.22 and a 200 day simple moving average of $71.88.

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

Institutional Trading of MasTec

A number of hedge funds have recently made changes to their positions in MTZ. Quarry LP bought a new position in shares of MasTec during the fourth quarter worth approximately $37,000. CWM LLC increased its stake in shares of MasTec by 152.4% during the third quarter. CWM LLC now owns 525 shares of the construction company’s stock worth $38,000 after purchasing an additional 317 shares during the period. Ronald Blue Trust Inc. increased its stake in shares of MasTec by 75.3% during the third quarter. Ronald Blue Trust Inc. now owns 540 shares of the construction company’s stock worth $39,000 after purchasing an additional 232 shares during the period. Headlands Technologies LLC bought a new position in shares of MasTec during the third quarter worth approximately $41,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of MasTec during the third quarter worth approximately $43,000. 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.