Lazydays Holdings To Acquire Burlington RV Superstore; Shares Gain 3.9%
Lazydays Holdings (LAZY), a leading recreational vehicles company in the United States, recently announced that it has signed an agreement to acquire the Wisconsin-based recreational vehicle company, Burlington RV Superstore. The terms of the deal have not been disclosed yet. The deal is likely to be finalized within 90 days.
Following the news, shares of the company gained 3.9% in Monday’s trading session. However, the same retraced by 2.5% in the extended trading session and closed at $23.67.
CEO of Lazydays William P. Murnane said, “We are extremely pleased to announce our intent to acquire Burlington RV as we continue to execute our geographic expansion strategy. We are excited to welcome Burlington RV and its tremendous team into the Lazydays’ family of dealerships.” (See Lazydays Holdings stock analysis on TipRanks)
On May 28, Truist Financial analyst Michael Swartz reiterated a Hold rating on the stock and lowered the price target to $24 from $25 (1.1% downside potential).
The Street is cautiously optimistic on the stock, with a Moderate Buy consensus rating based on 1 Buy and 1 Hold.
The average analyst Lazydays Holdings price target of $24.50 implies the stock is fairly valued at current levels. Shares have gained 200.7% over the past year.
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