MasTec Upgraded to “Buy” by DA Davidson (MTZ)
MasTec (NYSE:MTZ) was upgraded by research analysts at DA Davidson from a “neutral” rating to a “buy” rating in a report released on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $38.00 price target on the stock. DA Davidson’s target price indicates a potential upside of 24.43% from the company’s current price.
The analysts wrote, “Price decline warrants attention. The shares of MasTec have recently pulled back from a high point of $35 and are now trading at a notable discount to our $38 price target. We view the discount as an opportunity and are raising our rating to BUY from Neutral. Despite notable growth and prospects, the shares are now trading at a discount to most peers.”
Shares of MasTec (NYSE:MTZ) traded down 0.79% on Thursday, hitting $30.30. The stock had a trading volume of 225,458 shares. MasTec has a 52 week low of $20.19 and a 52 week high of $35.31. The stock’s 50-day moving average is $31.97 and its 200-day moving average is $31.34. The company has a market cap of $2.336 billion and a price-to-earnings ratio of 21.61.
MasTec (NYSE:MTZ) last announced its earnings results on Thursday, August 1st. The company reported $0.47 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.43 by $0.04. The company had revenue of $978.00 million for the quarter, compared to the consensus estimate of $960.01 million. During the same quarter in the prior year, the company posted $0.37 earnings per share. The company’s quarterly revenue was down 1.1% on a year-over-year basis. On average, analysts predict that MasTec will post $1.88 earnings per share for the current fiscal year.
MTZ has been the subject of a number of other recent research reports. Analysts at Zacks downgraded shares of MasTec (NYSE:MTZ) from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, September 18th. They now have a $35.90 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of MasTec (NYSE:MTZ) in a research note to investors on Tuesday, August 13th. They now have a $40.00 price target on the stock, up previously from $38.00. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $36.91.
MasTec, Inc, is an infrastructure construction company operating mainly throughout North America across a range of industries.
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