MasTec’s (MTZ) Buy Rating Reiterated at Roth Capital

MasTec (NYSE:MTZ)‘s stock had its “buy” rating reaffirmed by stock analysts at Roth Capital in a research note issued to investors on Monday, Benzinga reports. They currently have a $380.00 price target on the construction company’s stock, down from their previous price target of $500.00. Roth Capital‘s price objective points to a potential upside of 96.08% from the company’s previous close.

MTZ has been the topic of several other research reports. UBS Group lowered their price objective on shares of MasTec from $453.00 to $410.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. TD Cowen dropped their price objective on shares of MasTec from $320.00 to $310.00 and set a “buy” rating on the stock in a report on Monday. Guggenheim boosted their target price on shares of MasTec from $480.00 to $518.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Piper Sandler reduced their target price on shares of MasTec from $321.00 to $313.00 and set a “neutral” rating for the company in a report on Monday, September 28th. Finally, KeyCorp reduced their target price on shares of MasTec from $371.00 to $320.00 and set an “overweight” rating for the company in a report on Thursday, October 15th. Nineteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $354.80.

MasTec Stock Performance

MasTec stock traded up $7.73 during mid-day trading on Monday, reaching $193.79. 1,417,268 shares of the stock traded hands, compared to its average volume of 1,221,679. The stock has a market capitalization of $15.56 billion, a PE ratio of 31.72 and a beta of 1.84. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.39 and a quick ratio of 1.36. MasTec has a 12-month low of $164.31 and a 12-month high of $441.43. The business’s 50-day moving average is $215.62 and its 200-day moving average is $300.41.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, October 29th. The construction company reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.95 by $0.01. The company had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $4.94 billion. MasTec had a return on equity of 17.89% and a net margin of 2.80%. MasTec’s revenue was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.48 earnings per share. As a group, sell-side analysts predict that MasTec will post 8.87 EPS for the current fiscal year.

Institutional Investors Weigh In On MasTec

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GK Wealth Management LLC bought a new position in shares of MasTec in the third quarter worth approximately $29,000. Ascentis Independent Advisors purchased a new position in shares of MasTec in the first quarter valued at about $30,000. Bell Investment Advisors Inc purchased a new position in shares of MasTec in the second quarter valued at about $32,000. Transamerica Financial Advisors LLC purchased a new position in shares of MasTec in the second quarter valued at about $32,000. Finally, Generali Asset Management SPA SGR bought a new position in shares of MasTec in the third quarter worth about $34,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Company Profile

MasTec, Inc is an infrastructure construction and engineering company that provides services to the communications, energy, utility, and industrial sectors. The company designs, builds, installs, maintains, and upgrades infrastructure for wireless and wireline communications networks, including cellular, broadband, fiber-optic, and other connectivity systems.

MasTec also performs construction and maintenance work for electric transmission and distribution systems, renewable energy projects, and other power infrastructure.