MasTec (NYSE:MTZ) Stock Price Expected to Rise, Barclays Analyst Says

MasTec (NYSE:MTZ - Get Free Report) had its target price increased by research analysts at Barclays from $130.00 to $145.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the construction company's stock. Barclays's target price suggests a potential upside of 25.73% from the stock's previous close.

A number of other equities research analysts have also recently weighed in on the company. KeyCorp upped their price objective on MasTec from $153.00 to $168.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 8th. Truist Financial increased their price target on shares of MasTec from $173.00 to $189.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Robert W. Baird cut their price objective on shares of MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a research report on Monday. Citigroup increased their target price on shares of MasTec from $156.00 to $167.00 and gave the company a "buy" rating in a research report on Monday. Finally, JPMorgan Chase & Co. raised their target price on shares of MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $160.14.

Remove Ads

MasTec Stock Down 3.0 %

NYSE:MTZ traded down $3.51 during mid-day trading on Tuesday, reaching $115.33. The company's stock had a trading volume of 1,613,825 shares, compared to its average volume of 1,136,669. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec has a 1 year low of $82.29 and a 1 year high of $166.95. The stock has a fifty day moving average of $140.50 and a 200-day moving average of $131.86. The firm has a market capitalization of $9.14 billion, a PE ratio of 102.97 and a beta of 1.73.

MasTec (NYSE:MTZ - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.08. The firm had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. Equities research analysts forecast that MasTec will post 3.44 earnings per share for the current year.

Hedge Funds Weigh In On MasTec

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its holdings in shares of MasTec by 65.6% in the third quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company's stock valued at $278,312,000 after purchasing an additional 895,227 shares during the period. State Street Corp boosted its position in MasTec by 1.4% in the third quarter. State Street Corp now owns 1,823,967 shares of the construction company's stock valued at $224,530,000 after buying an additional 24,522 shares during the last quarter. Hood River Capital Management LLC boosted its position in MasTec by 3.5% in the fourth quarter. Hood River Capital Management LLC now owns 1,531,104 shares of the construction company's stock valued at $208,444,000 after buying an additional 51,531 shares during the last quarter. Geode Capital Management LLC increased its holdings in MasTec by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company's stock worth $126,370,000 after buying an additional 16,844 shares during the period. Finally, AQR Capital Management LLC raised its position in MasTec by 13.3% during the 4th quarter. AQR Capital Management LLC now owns 779,472 shares of the construction company's stock worth $106,117,000 after buying an additional 91,564 shares during the last quarter. Hedge funds and other 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.