MasTec (NYSE:MTZ) Price Target Raised to $104.00 at Citigroup

MasTec (NYSE:MTZ - Get Free Report) had its target price hoisted by investment analysts at Citigroup from $99.00 to $104.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the construction company's stock. Citigroup's price target indicates a potential upside of 24.16% from the company's previous close.

Other research analysts have also issued research reports about the company. Truist Financial started coverage on MasTec in a research report on Thursday, March 14th. They issued a "hold" rating and a $96.00 target price for the company. KeyCorp upped their price target on MasTec from $92.00 to $97.00 and gave the stock an "overweight" rating in a research note on Monday, March 4th. The Goldman Sachs Group upped their price target on MasTec from $54.00 to $61.00 and gave the stock a "neutral" rating in a research note on Friday, February 9th. Robert W. Baird increased their target price on MasTec from $70.00 to $89.00 and gave the company a "neutral" rating in a research note on Monday, March 4th. Finally, Craig Hallum upgraded MasTec from a "hold" rating to a "buy" rating and increased their target price for the company from $50.00 to $96.00 in a research note on Monday, March 4th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, MasTec currently has an average rating of "Moderate Buy" and an average price target of $96.85.

MasTec Stock Performance

Shares of NYSE MTZ traded down $0.66 during mid-day trading on Monday, hitting $83.76. The company had a trading volume of 627,925 shares, compared to its average volume of 921,121. MasTec has a 1 year low of $44.65 and a 1 year high of $123.33. The stock's 50-day moving average price is $84.67 and its 200-day moving average price is $71.66. The company has a current ratio of 1.40, a quick ratio of 1.36 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $6.66 billion, a price-to-earnings ratio of -126.91 and a beta of 1.62.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.20. MasTec had a positive return on equity of 4.82% and a negative net margin of 0.42%. The firm had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.26 billion. On average, sell-side analysts forecast that MasTec will post 2.33 earnings per share for the current year.

Hedge Funds Weigh In On MasTec

Large investors have recently bought and sold shares of the business. Quarry LP purchased a new position in MasTec in the fourth quarter worth $37,000. CWM LLC grew its holdings in shares of MasTec by 152.4% during the third quarter. CWM LLC now owns 525 shares of the construction company's stock valued at $38,000 after buying an additional 317 shares during the last quarter. Ronald Blue Trust Inc. grew its holdings in shares of MasTec by 75.3% during the third quarter. Ronald Blue Trust Inc. now owns 540 shares of the construction company's stock valued at $39,000 after buying an additional 232 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of MasTec during the third quarter valued at $41,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of MasTec during the third quarter valued at $43,000. Institutional investors own 78.10% of the company's stock.

About MasTec

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.