Credit Suisse Sticks to Its Buy Rating for MasTec (MTZ)


In a report issued on July 21, Jamie Cook from Credit Suisse maintained a Buy rating on MasTec (MTZ), with a price target of $48.00. The company’s shares closed last Tuesday at $39.34.

According to TipRanks.com, Cook is a 4-star analyst with an average return of 5.7% and a 57.3% success rate. Cook covers the Services sector, focusing on stocks such as Jacobs Engineering, Rush Enterprises A, and Quanta Services.

Currently, the analyst consensus on MasTec is a Strong Buy with an average price target of $45.83.

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The company has a one-year high of $73.71 and a one-year low of $22.51. Currently, MasTec has an average volume of 918.1K.

Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MTZ in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

MasTec, Inc. engages in the provision of infrastructure construction services. It operates through the following segments: Communications; Oil and Gas; Electrical Transmissions; Power Generation and Industrial; and Other. The Communications segment performs engineering, construction, maintenance and customer fulfillment activities related to communications infrastructure, primarily for wireless and wireline/fiber communications, and install-to-the-home customers. The Oil and Gas segment offers services on oil and natural gas pipelines and processing facilities for the energy, and utilities industries. The Electrical Transmission segment deals with the energy and utility industries. The Power Generation and Industrial segment covers energy, utility and other end-markets through the installation and construction of conventional and renewable power facilities. The Other segment comprises of equity investees, other small business units that perform construction, and other services for a variety of international end-markets. The company was founded by Jorge Mas Canosa in 1994 and is headquartered in Coral Gables, FL.

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