DA Davidson Boosts MasTec (MTZ) Price Target to $65.00
MasTec (NYSE:MTZ) had its target price upped by analysts at DA Davidson to $65.00 in a report released on Thursday, The Fly reports. The firm currently has a “buy” rating on the construction company’s stock. DA Davidson’s target price indicates a potential upside of 31.98% from the stock’s current price.
A number of other research analysts have also issued reports on MTZ. Robert W. Baird raised shares of MasTec from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $51.00 to $53.00 in a research note on Monday, November 6th. Credit Suisse Group upped their price objective on shares of MasTec from $57.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, November 6th. B. Riley reaffirmed a “buy” rating and set a $67.00 price objective (up from $66.00) on shares of MasTec in a report on Tuesday, November 7th. ValuEngine downgraded shares of MasTec from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Finally, Barclays began coverage on shares of MasTec in a report on Tuesday, December 12th. They set an “overweight” rating and a $54.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $61.01.
MasTec (MTZ) traded down $0.35 during mid-day trading on Thursday, reaching $49.25. 991,233 shares of the company’s stock traded hands, compared to its average volume of 987,422. The stock has a market cap of $4,080.00, a PE ratio of 17.84, a P/E/G ratio of 1.14 and a beta of 1.48. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.92 and a quick ratio of 1.66. MasTec has a 12-month low of $36.40 and a 12-month high of $55.53.
Institutional investors have recently modified their holdings of the business. Cornerstone Capital Management Holdings LLC. bought a new stake in MasTec in the 4th quarter valued at $107,000. FNY Partners Fund LP bought a new position in shares of MasTec during the 4th quarter worth approximately $122,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of MasTec by 81.6% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,624 shares of the construction company’s stock worth $128,000 after buying an additional 1,179 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of MasTec during the 4th quarter worth approximately $146,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of MasTec by 53.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,387 shares of the construction company’s stock worth $166,000 after buying an additional 1,175 shares in the last quarter. 74.36% of the stock is owned by hedge funds and other institutional investors.
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MasTec Company Profile
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.
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