Roth Capital Reaffirms Buy Rating for MasTec (NYSE:MTZ)

Key Points

• Roth Capital reaffirmed its “buy” rating on MasTec but cut its price target to $380 from $500, implying roughly 96% upside from the previous close.
• Analyst sentiment remains broadly positive, with 19 Buy ratings and three Holds; MasTec has a consensus “Moderate Buy” rating and an average price target of $354.80.
• MasTec’s latest quarterly results slightly exceeded expectations, with $2.96 in adjusted EPS and $5.15 billion in revenue, up 29.9% year over year. The stock rose 4.2% to $193.79 in Monday trading.

MasTec (NYSE:MTZ - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Roth Capital in a report issued on Monday, Benzinga reports. They presently have a $380.00 price objective on the construction company's stock, down from their previous price objective of $500.00. Roth Capital's target price suggests a potential upside of 96.08% from the company's previous close.

A number of other equities analysts have also recently issued reports on MTZ. Barclays dropped their price target on shares of MasTec from $340.00 to $320.00 and set an "overweight" rating on the stock in a research note on Monday, October 19th. Citigroup decreased their target price on shares of MasTec from $408.00 to $308.00 and set a "buy" rating for the company in a report on Friday, October 23rd. UBS Group dropped their target price 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. Guggenheim increased their price target on shares of MasTec from $480.00 to $518.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. Finally, Wall Street Zen cut shares of MasTec from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Nineteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, MasTec currently has a consensus rating of "Moderate Buy" and a consensus price target of $354.80.

MasTec Stock Up 4.2%

NYSE:MTZ traded up $7.73 during mid-day trading on Monday, hitting $193.79. 1,417,268 shares of the company's stock were exchanged, compared to its average volume of 1,221,679. MasTec has a one year low of $164.31 and a one year high of $441.43. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.39 and a quick ratio of 1.36. The business has a fifty day moving average price of $215.62 and a 200 day moving average price of $300.41. The company has a market cap of $15.56 billion, a PE ratio of 31.72 and a beta of 1.84.

MasTec (NYSE:MTZ - Get Free Report) last announced 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. MasTec had a net margin of 2.80% and a return on equity of 17.89%. The business had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $4.94 billion. During the same quarter last year, the firm earned $2.48 earnings per share. The business's revenue for the quarter was up 29.9% on a year-over-year basis. Equities analysts predict that MasTec will post 8.87 EPS for the current year.

Institutional Trading of MasTec

A number of institutional investors have recently made changes to their positions in the stock. Inscription Capital LLC grew its stake in shares of MasTec by 7.7% in the third quarter. Inscription Capital LLC now owns 1,221 shares of the construction company's stock worth $261,000 after acquiring an additional 87 shares during the period. Commonwealth Equity Services LLC lifted its position in MasTec by 1.6% during the third quarter. Commonwealth Equity Services LLC now owns 19,267 shares of the construction company's stock valued at $4,116,000 after purchasing an additional 296 shares during the period. Bfsg LLC lifted its position in MasTec by 93.1% during the third quarter. Bfsg LLC now owns 5,393 shares of the construction company's stock valued at $1,152,000 after purchasing an additional 2,600 shares during the period. Chicago Partners Investment Group LLC boosted its holdings in MasTec by 22.2% in the third quarter. Chicago Partners Investment Group LLC now owns 2,205 shares of the construction company's stock worth $377,000 after purchasing an additional 401 shares during the last quarter. Finally, Provenance Wealth Advisors LLC purchased a new stake in MasTec in the third quarter worth approximately $38,000. Hedge funds and other institutional investors own 78.10% of the company's stock.

About MasTec

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.

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