U.S. Silica upgraded to Outperform from Market Perform at Wells Fargo Wells Fargo upgraded U.S. Silica Holdings citing the recent pullback in shares and expectations for solid volume growth through 2015. The firm keeps a $33-$35 price target range for the stock.
News For SLCA From The Last 14 Days
Check below for free stories on SLCA the last two weeks.
U.S. Silica to acquire Cadre Services for $98M cash U.S. Silica Holdings announced that it has signed a stock purchase agreement to acquire all of the outstanding shares of Cadre Services for approximately $98M in cash. Closing is expected by the end of the month. The purchase price of $98M, less the net present value of approximately $14M in deferred tax assets, results in $84M of net consideration. Adjusted LTM EBITDA of $11.1M represents a purchase price multiple of 7.6 times. Projected 2015 Adjusted EBITDA of approximately $18M after synergies and the benefit of a full year of sales from the March capacity expansion represents a purchase price multiple of 4.7 times. This would result in Adjusted EPS accretion of 11c-13c per share in 2015.