MasTec (MTZ) : Traders are bullish on MasTec (MTZ) as it has outperformed the S&P 500 by a wide margin of 24.89% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.71%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.68% in the last 1 week, and is up 25.37% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
MasTec, Inc. is up 35.67% in the last 3-month period. Year-to-Date the stock performance stands at 73.99%. The stock has recorded a 20-day Moving Average of 11.26% and the 50-Day Moving Average is 21.49%.
MasTec (NYSE:MTZ): The stock opened at $30.69 on Friday but the bulls could not build on the opening and the stock topped out at $30.69 for the day. The stock traded down to $30.04 during the day, due to lack of any buying support eventually closed down at $30.24 with a loss of -1.69% for the day. The stock had closed at $30.76 on the previous day. The total traded volume was 513,866 shares.
Also, In a research note released to the investors, Citigroup maintains its rating on MasTec (NYSE:MTZ).The analysts at the brokerage house have a current rating of Neutral on the shares. In a recent information released to the investors, Citigroup raises the new price target from $26 per share to $30 per share. The rating by the firm was issued on August 8, 2016.
MasTec, Inc. is an infrastructure construction company. The Companys primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber and satellite communications; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; power generation, and industrial infrastructure. The Company manages its operations under five operating segments: Communications; Oil and Gas; Electrical Transmission; Power Generation and Industrial, and Other. The Company offers its services primarily under the MasTec service mark and it has operations across 460 locations. It provides services under master service and other service agreements, which are generally multi-year agreements. It offers its service offerings in markets, including wireless services; natural gas, natural gas liquids and petroleum pipeline; and electrical transmission, among others.