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

MasTec (NYSE:MTZ) had its price objective lifted by analysts at Robert W. Baird from $89.00 to $110.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. Robert W. Baird’s target price would suggest a potential upside of 8.06% from the company’s current price.

Several other research analysts have also commented on MTZ. Barclays raised their price target 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 lifted their target price on shares of MasTec from $99.00 to $104.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Truist Financial assumed coverage on MasTec in a report on Thursday, March 14th. They issued a “hold” rating and a $96.00 price target for the company. KeyCorp boosted their price objective on MasTec from $92.00 to $97.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Finally, Craig Hallum upgraded MasTec from a “hold” rating to a “buy” rating and increased their target price for the company from $50.00 to $96.00 in a research note on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, MasTec currently has an average rating of “Moderate Buy” and a consensus price target of $98.85.

MasTec Stock Up 11.9 %

MTZ stock opened at $101.80 on Monday. The company has a 50 day moving average price of $87.95 and a two-hundred day moving average price of $73.09. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.27 and a current ratio of 1.31. 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 one year low of $44.65 and a one year high of $123.33.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.20. The company had revenue of $3.28 billion for 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 expect that MasTec will post 2.33 EPS for the current year.

Institutional Trading of MasTec

A number of institutional investors and hedge funds have recently modified their holdings of MTZ. Quarry LP bought a new stake in shares of MasTec during the 4th quarter valued at about $37,000. Headlands Technologies LLC bought a new position in shares of MasTec during the third quarter valued at approximately $41,000. Itau Unibanco Holding S.A. bought a new position in shares of MasTec during the third quarter valued at approximately $43,000. CWM LLC raised its position 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 purchasing an additional 312 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in shares of MasTec by 30.9% in the 4th quarter. Quadrant Capital Group LLC now owns 897 shares of the construction company’s stock worth $68,000 after purchasing an additional 212 shares during the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

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.