Accel Entertainment (NYSE:ACEL) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Accel Entertainment (NYSE:ACEL) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday.

ACEL has been the subject of a number of other reports. Citizens Jmp raised their price target on Accel Entertainment from $13.00 to $14.00 and gave the stock a “market outperform” rating in a report on Wednesday, March 4th. Truist Financial upped their price objective on shares of Accel Entertainment from $13.00 to $14.00 and gave the company a “hold” rating in a report on Wednesday, March 4th. Citigroup assumed coverage on shares of Accel Entertainment in a research report on Friday, December 5th. They issued an “outperform” rating for the company. Finally, Weiss Ratings cut shares of Accel Entertainment from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 20th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.75.

Accel Entertainment Price Performance

NYSE ACEL opened at $11.03 on Friday. The firm’s fifty day simple moving average is $11.20 and its two-hundred day simple moving average is $10.92. The firm has a market capitalization of $899.31 million, a P/E ratio of 18.38 and a beta of 1.05. The company has a current ratio of 2.61, a quick ratio of 2.55 and a debt-to-equity ratio of 2.11. Accel Entertainment has a 12-month low of $9.02 and a 12-month high of $13.31.

Accel Entertainment (NYSE:ACEL) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.15 by $0.04. Accel Entertainment had a return on equity of 27.49% and a net margin of 3.87%.The firm had revenue of $341.45 million during the quarter, compared to analyst estimates of $335.66 million. Analysts forecast that Accel Entertainment will post 0.8 EPS for the current fiscal year.

Insider Buying and Selling

In other Accel Entertainment news, Director David W. Ruttenberg sold 25,000 shares of Accel Entertainment stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $11.04, for a total transaction of $276,000.00. Following the completion of the sale, the director owned 198,135 shares of the company’s stock, valued at approximately $2,187,410.40. The trade was a 11.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Derek Harmer sold 20,000 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $11.39, for a total value of $227,800.00. Following the sale, the insider owned 179,963 shares in the company, valued at approximately $2,049,778.57. The trade was a 10.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 889,247 shares of company stock worth $10,154,547 in the last 90 days. Insiders own 18.33% of the company’s stock.

Institutional Investors Weigh In On Accel Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new position in Accel Entertainment in the 3rd quarter worth approximately $49,000. Osaic Holdings Inc. lifted its stake in Accel Entertainment by 456.2% during the 2nd quarter. Osaic Holdings Inc. now owns 5,618 shares of the company’s stock valued at $66,000 after acquiring an additional 4,608 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Accel Entertainment by 195.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,099 shares of the company’s stock valued at $84,000 after acquiring an additional 4,700 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Accel Entertainment in the 4th quarter valued at $118,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Accel Entertainment in the first quarter worth $110,000. Institutional investors and hedge funds own 55.39% of the company’s stock.

Accel Entertainment Company Profile

Accel Entertainment, Inc is a Chicago-based gaming and entertainment company specializing in the provision of regulated electronic gaming terminals and related management services to licensed establishments across the United States. The company’s core offerings include video gaming terminals (VGTs), digital payment solutions, player loyalty programs and compliance support, all designed to enhance customer engagement and operational efficiency for bars, restaurants, truck stops and convenience stores.

Founded in 2005, Accel Entertainment has built a network that spans multiple states, including Illinois, Pennsylvania, Ohio, and Iowa.