Cabela's (CAB) Stock Advances, Nearing Sale to Bass Pro Shops
NEW YORK (TheStreet) -- Shares of Cabela's (CAB) are climbing 2.68% to $54.06 on heavy trading volume late Thursday afternoon as the retail hunting giant nears a sale to Goldman Sachs and Bass Pro Shops, sources told the New York Post.
"Bass is the only buyer around it," the source said.
Private equity firms such as Apaz Partners and TPG Capital are reportedly no longer interested in making a bid.
The auction is expected to close within days.
About 1.48 million shares of Cabela's have been traded so far today vs. its average trading volume of roughly 643,768 shares per day.
Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C+.
Cabela's strengths such as its revenue growth, reasonable valuation levels and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and generally higher debt management risk.
You can view the full analysis from the report here: CAB
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.