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ACA

Arcosa

$30.88

-0.02 (-0.06%)

16:17
11/14/18
11/14
16:17
11/14/18
16:17

Arcosa to acquire ACG Materials for approximately $315M

Arcosa, announced that it has reached a definitive agreement with an affiliate of H.I.G. Capital to acquire the ACG Materials business for approximately $315M. ACG is a producer of specialty materials and aggregates with estimated revenues of approximately $152 million and adjusted EBITDA of approximately $32M for the trailing twelve month period ended August 31, 2018, resulting in a purchase multiple of approximately 9.8x. Arcosa expects the transaction to be slightly accretive to earnings in the first year following transaction completion. The Company expects to fund the approximate $315M purchase price with a combination of cash on-hand and advances under its $400 million five year, credit facility. The transaction, which has been approved by the Company's Board of Directors, is subject to customary closing conditions and regulatory provisions under the Hart-Scott-Rodino Act. The transaction is expected to close in the fourth quarter of 2018 or first quarter of 2019. After closing and additional clarity on purchase price accounting, the company expects to revisit its revenue and EBITDA guidance for fiscal year 2019.

ACA Arcosa
$30.88

-0.02 (-0.06%)

11/06/18
11/06/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Arcosa (ACA) initiated with a Buy at Gabelli. 2. Alder Biopharmaceuticals (ALDR) resumed with an Outperform at Wells Fargo. 3. Anaplan (PLAN) initiated with a Buy at Canaccord and Needham, an Overweight at Barclays and Piper Jaffray, an Outperform at JMP Securities, an In Line at Evercore ISI, an Equal Weight at Morgan Stanley, a Sector Weight at KeyBanc, and a Neutral at Goldman Sachs. 4. Equillium (EQ) initiated with a Buy at Stifel and Jefferies. 5. Badger Meter (BMI) initiated with a Buy at Maxim. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/06/18
GABE
11/06/18
INITIATION
GABE
Buy
Arcosa initiated with a Buy at Gabelli
Gabelli analyst Justin Bergner initiated Arcosa (ACA) with a Buy rating following the company's spin off from Trinity Industries (TRN) on November 1. He likes Arcosa management and sees numerous sources of upside across the business, notably barges, Bergner tells investors. He set a 2020 private market value of $50 on Arcosa shares.
11/05/18
SUSQ
11/05/18
INITIATION
Target $37
SUSQ
Positive
Arcosa initiated with a Positive rating at Susquehanna
Susquehanna analyst Bascome Majors initiated Arcosa (ACA) with a Positive rating after it was spun off from Trinity Industries (TRN) last week. The analyst noted both of their balance sheets were bolstered and he sees value in both. Majors has a $37 price target on Arcosa shares and a $27 price target on Trinity Industries shares.

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