MasTec (MTZ) Stock Rating Reaffirmed by Credit Suisse Group
Credit Suisse Group reiterated their outperform rating on shares of MasTec (NYSE:MTZ) in a research note published on Thursday morning, The Fly reports. The brokerage currently has a $69.00 price target on the construction company’s stock, up from their prior price target of $58.00.
Several other research analysts have also issued reports on the stock. Citigroup set a $54.00 target price on shares of MasTec and gave the stock a buy rating in a research note on Friday, October 27th. Stifel Nicolaus reissued a buy rating and set a $55.50 target price on shares of MasTec in a research note on Friday, October 13th. Robert W. Baird raised shares of MasTec from a neutral rating to an outperform rating and increased their target price for the stock from $51.00 to $53.00 in a research note on Monday, November 6th. Zacks Investment Research lowered shares of MasTec from a strong-buy rating to a hold rating in a research note on Monday, October 9th. Finally, Barclays started coverage on shares of MasTec in a research note on Tuesday, December 12th. They set an overweight rating and a $54.00 target price on the stock. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $57.40.
MasTec (NYSE:MTZ) traded up $1.25 during trading hours on Thursday, hitting $53.30. 777,600 shares of the stock were exchanged, compared to its average volume of 739,377. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.66 and a current ratio of 1.74. MasTec has a 12 month low of $35.45 and a 12 month high of $53.40. The company has a market cap of $4,411.14, a price-to-earnings ratio of 18.25, a P/E/G ratio of 1.22 and a beta of 1.54.
In other MasTec news, COO Robert E. Apple sold 25,000 shares of the firm’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $50.16, for a total value of $1,254,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 20.30% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of MasTec by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the construction company’s stock valued at $100,000 after buying an additional 229 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of MasTec in the second quarter valued at $102,000. Steward Partners Investment Advisory LLC bought a new position in shares of MasTec in the fourth quarter valued at $146,000. Advisory Services Network LLC lifted its stake in shares of MasTec by 13.1% in the second quarter. Advisory Services Network LLC now owns 3,700 shares of the construction company’s stock valued at $167,000 after buying an additional 430 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its stake in shares of MasTec by 110.2% in the second quarter. D.A. Davidson & CO. now owns 3,800 shares of the construction company’s stock valued at $171,000 after buying an additional 1,992 shares in the last quarter. 73.27% of the stock is currently owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION NOTICE: This piece was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The original version of this piece can be viewed at https://www.thecerbatgem.com/2018/01/22/mastec-mtz-stock-rating-reaffirmed-by-credit-suisse-group.html.
MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.
Receive News & Ratings for MasTec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MasTec and related companies with MarketBeat.com's FREE daily email newsletter.