KeyCorp Raises MasTec (NYSE:MTZ) Price Target to $113.00

MasTec (NYSE:MTZ) had its price target boosted by research analysts at KeyCorp from $104.00 to $113.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. KeyCorp’s price target would indicate a potential upside of 6.79% from the stock’s previous close.

MTZ has been the subject of a number of other reports. Craig Hallum raised MasTec from a “hold” rating to a “buy” rating and raised their price target for the stock from $50.00 to $96.00 in a report on Monday, March 4th. The Goldman Sachs Group lifted 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. TD Cowen lifted their price target on MasTec from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday. Citigroup lifted their price objective on MasTec from $99.00 to $104.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Finally, Truist Financial restated a “hold” rating and set a $109.00 price target (up previously from $96.00) on shares of MasTec in a report on Monday. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $101.08.

MasTec Price Performance

Shares of MTZ stock traded up $4.02 during trading hours on Monday, hitting $105.82. 405,897 shares of the company’s stock were exchanged, compared to its average volume of 919,862. MasTec has a 52 week low of $44.65 and a 52 week high of $123.33. The stock’s 50-day moving average is $87.95 and its 200-day moving average is $73.09. 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 stock has a market cap of $8.41 billion, a price-to-earnings ratio of -756.21 and a beta of 1.61.

MasTec (NYSE:MTZ) last released its earnings results 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 during the quarter, compared to the consensus estimate of $3.26 billion. As a group, research analysts forecast that MasTec will post 2.33 EPS for the current year.

Institutional Investors Weigh In On MasTec

Large investors have recently modified their holdings of the stock. Quarry LP bought a new stake in MasTec during the 4th quarter valued at $37,000. Headlands Technologies LLC purchased a new position in MasTec in the third quarter valued at about $41,000. Itau Unibanco Holding S.A. purchased a new stake in MasTec in the third quarter valued at approximately $43,000. CWM LLC raised its stake in shares of MasTec by 59.4% during the 4th quarter. CWM LLC now owns 837 shares of the construction company’s stock worth $63,000 after buying an additional 312 shares during the period. Finally, Quadrant Capital Group LLC increased its stake in shares of MasTec by 30.9% in the 4th quarter. Quadrant Capital Group LLC now owns 897 shares of the construction company’s stock worth $68,000 after acquiring an additional 212 shares during the last quarter. Hedge funds and other 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.