UBS Group Upgrades MasTec (NYSE:MTZ) to “Buy”

MasTec (NYSE:MTZ) was upgraded by research analysts at UBS Group from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, MarketBeat reports. The firm currently has a $56.00 price objective on the construction company’s stock, up from their previous price objective of $40.00. UBS Group’s target price would suggest a potential upside of 19.97% from the company’s current price.

A number of other research analysts also recently weighed in on the company. Robert W. Baird dropped their price target on MasTec from $44.00 to $43.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. B. Riley raised their target price on MasTec from $46.00 to $57.00 in a research note on Monday, August 3rd. Zacks Investment Research cut MasTec from a “buy” rating to a “hold” rating and set a $47.00 target price on the stock. in a research note on Thursday, August 6th. Craig Hallum raised their target price on MasTec from $71.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Finally, Citigroup raised their target price on MasTec from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $53.62.

MasTec stock traded down $0.03 during mid-day trading on Wednesday, hitting $46.68. The stock had a trading volume of 6,326 shares, compared to its average volume of 1,099,291. The stock has a 50-day simple moving average of $41.59 and a two-hundred day simple moving average of $41.88. The stock has a market capitalization of $3.47 billion, a PE ratio of 10.91 and a beta of 1.39. MasTec has a 12 month low of $22.51 and a 12 month high of $73.71. The company has a current ratio of 1.40, a quick ratio of 1.33 and a debt-to-equity ratio of 0.71.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, July 30th. The construction company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.19. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.54 billion. MasTec had a return on equity of 19.17% and a net margin of 4.81%. Sell-side analysts expect that MasTec will post 4.7 earnings per share for the current fiscal year.

In other news, Director Robert J. Dwyer sold 5,945 shares of MasTec stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $41.09, for a total transaction of $244,280.05. Following the sale, the director now owns 15,000 shares in the company, valued at $616,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 23.90% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Liberty One Investment Management LLC purchased a new position in MasTec during the 2nd quarter valued at about $30,000. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of MasTec during the second quarter worth about $31,000. Verus Capital Partners LLC acquired a new stake in shares of MasTec during the first quarter worth about $28,000. Pendal Group Ltd raised its position in shares of MasTec by 75.8% during the first quarter. Pendal Group Ltd now owns 2,419 shares of the construction company’s stock worth $79,000 after purchasing an additional 1,043 shares during the period. Finally, Strs Ohio raised its position in shares of MasTec by 150.0% during the second quarter. Strs Ohio now owns 4,500 shares of the construction company’s stock worth $201,000 after purchasing an additional 2,700 shares during the period. Institutional investors own 82.82% 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, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.

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Analyst Recommendations for MasTec (NYSE:MTZ)

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