B. Riley Increases MasTec (NYSE:MTZ) Price Target to $120.00

MasTec (NYSE:MTZ) had its price target lifted by stock analysts at B. Riley from $104.00 to $120.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. B. Riley’s price objective suggests a potential upside of 13.20% from the company’s previous close.

Other analysts also recently issued research reports about the company. Craig Hallum lifted their target price on MasTec from $96.00 to $125.00 and gave the company a “buy” rating in a research note on Monday. TD Cowen lifted their target price on MasTec from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Monday. The Goldman Sachs Group lifted their target price on MasTec from $54.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. DA Davidson reissued a “buy” rating and set a $70.00 target price on shares of MasTec in a research note on Monday, March 4th. Finally, Citigroup lifted their target price on MasTec from $99.00 to $104.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.23.

MasTec Stock Performance

Shares of MTZ stock traded up $4.21 during trading hours on Monday, reaching $106.01. 774,026 shares of the company traded hands, compared to its average volume of 923,611. MasTec has a 12-month low of $44.65 and a 12-month high of $123.33. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.31 and a quick ratio of 1.27. The company has a market cap of $8.42 billion, a P/E ratio of -757.57 and a beta of 1.61. The firm has a 50-day moving average price of $87.95 and a 200 day moving average price of $73.09.

MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, February 29th. The construction company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.20. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. As a group, sell-side analysts predict that MasTec will post 2.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MasTec

Large investors have recently modified their holdings of the stock. DMC Group LLC boosted its holdings in MasTec by 5.5% during the 1st quarter. DMC Group LLC now owns 2,841 shares of the construction company’s stock valued at $265,000 after acquiring an additional 147 shares during the period. MONECO Advisors LLC boosted its holdings in MasTec by 4.8% during the 4th quarter. MONECO Advisors LLC now owns 3,293 shares of the construction company’s stock valued at $249,000 after acquiring an additional 150 shares during the period. New York State Teachers Retirement System boosted its holdings in MasTec by 0.8% during the 1st quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock valued at $2,476,000 after acquiring an additional 200 shares during the period. Quadrant Capital Group LLC boosted its holdings in MasTec by 30.9% during the 4th quarter. Quadrant Capital Group LLC now owns 897 shares of the construction company’s stock valued at $68,000 after acquiring an additional 212 shares during the period. Finally, Bridge City Capital LLC boosted its holdings in MasTec by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 33,010 shares of the construction company’s stock valued at $3,078,000 after acquiring an additional 249 shares during the period. 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.