MasTec (NYSE:MTZ) Price Target Cut to $175.00 by Analysts at Stifel Nicolaus

MasTec (NYSE:MTZ - Get Free Report) had its target price lowered by research analysts at Stifel Nicolaus from $185.00 to $175.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the construction company's stock. Stifel Nicolaus' target price indicates a potential upside of 47.32% from the company's previous close.

Several other research firms have also issued reports on MTZ. KeyCorp lifted their price target on shares of MasTec from $153.00 to $168.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 8th. TD Cowen lifted their target price on MasTec from $115.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, November 4th. B. Riley reaffirmed a "buy" rating and set a $166.00 target price (up from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Citigroup lifted their price target on MasTec from $156.00 to $167.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Craig Hallum upped their price objective on shares of MasTec from $125.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Two equities 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.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $160.14.

MasTec Price Performance

Shares of MasTec stock traded down $9.12 on Monday, hitting $118.79. The company had a trading volume of 1,464,076 shares, compared to its average volume of 1,125,574. MasTec has a 52 week low of $82.29 and a 52 week high of $166.95. The company has a market cap of $9.41 billion, a PE ratio of 106.06 and a beta of 1.73. The business has a 50-day simple moving average of $140.89 and a 200-day simple moving average of $131.95. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20.

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

Hedge Funds Weigh In On MasTec

A number of hedge funds have recently modified their holdings of MTZ. Pacer Advisors Inc. grew its stake in 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 in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in MasTec in the fourth quarter worth approximately $59,910,000. First Trust Advisors LP raised its position in MasTec by 173.8% during the fourth quarter. First Trust Advisors LP now owns 587,788 shares of the construction company's stock valued at $80,021,000 after acquiring an additional 373,145 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in MasTec by 137.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company's stock valued at $85,451,000 after acquiring an additional 363,502 shares during the last quarter. Finally, Merewether Investment Management LP acquired a new stake in MasTec in the fourth quarter valued at approximately $46,612,000. 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.