Accel Entertainment (NYSE:ACEL) Upgraded 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 report published on Saturday morning,Wall Street Zen reports.

Other equities analysts also recently issued reports about the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Accel Entertainment in a research report on Tuesday, September 22nd. Citizens Jmp increased their price objective on Accel Entertainment from $14.00 to $15.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 5th. Truist Financial reduced their price target on shares of Accel Entertainment from $14.00 to $13.00 and set a “hold” rating on the stock in a research note on Tuesday, October 20th. Citigroup reissued a “market outperform” rating on shares of Accel Entertainment in a research note on Wednesday, August 5th. Finally, National Bank Financial set a $15.00 price target on shares of Accel Entertainment in a research note on Wednesday, August 5th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.25.

Accel Entertainment Trading Up 1.2%

NYSE:ACEL opened at $13.88 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.27 and a quick ratio of 2.40. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 18.26 and a beta of 1.09. Accel Entertainment has a one year low of $9.55 and a one year high of $14.00. The business has a fifty day moving average price of $11.43 and a 200-day moving average price of $11.75.

Accel Entertainment (NYSE:ACEL) last announced its earnings results on Tuesday, November 3rd. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.07. Accel Entertainment had a return on equity of 22.62% and a net margin of 4.49%. The company had revenue of $363.56 million for the quarter, compared to analysts’ expectations of $358.62 million. Sell-side analysts forecast that Accel Entertainment will post 0.72 EPS for the current year.

Insider Buying and Selling at Accel Entertainment

In related news, CEO Mark Phelan sold 25,000 shares of the stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $12.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief executive officer owned 216,464 shares in the company, valued at $2,597,568. This represents a 10.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Derek Harmer sold 13,162 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $11.60, for a total value of $152,679.20. Following the transaction, the insider directly owned 157,767 shares in the company, valued at approximately $1,830,097.20. This represents a 7.70% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 65,036 shares of company stock valued at $765,180. 14.47% of the stock is owned by insiders.

Institutional Trading of Accel Entertainment

Several hedge funds have recently modified their holdings of ACEL. R Squared Ltd boosted its holdings in Accel Entertainment by 52.2% during the third quarter. R Squared Ltd now owns 39,925 shares of the company’s stock worth $426,000 after buying an additional 13,686 shares in the last quarter. Uhlmann Price Securities LLC acquired a new stake in shares of Accel Entertainment in the third quarter valued at approximately $203,000. CenterBook Partners LP acquired a new position in shares of Accel Entertainment in the third quarter worth $499,000. Oppenheimer & Co. Inc. purchased a new stake in Accel Entertainment in the 3rd quarter worth approximately $128,000. Finally, USA Financial Formulas purchased a new position in Accel Entertainment during the third quarter worth about $41,000. 55.39% of the stock is owned by institutional investors and hedge funds.

About Accel Entertainment

Accel Entertainment, Inc is a distributed gaming operator that provides regulated gaming services and equipment to non-casino businesses. The company places and operates gaming terminals in locations such as bars, restaurants, taverns, convenience stores, truck stops, and fraternal or veterans organizations, allowing these establishments to offer legal gaming without operating a traditional casino.

Accel manages the installation, maintenance, monitoring, and regulatory compliance of its gaming equipment.