Accel Entertainment (NYSE:ACEL) Upgraded at Truist Financial

Truist Financial upgraded shares of Accel Entertainment (NYSE:ACEL) to a hold rating in a report released on Tuesday,Zacks.com reports.

A number of other research firms also recently weighed in on ACEL. Zacks Research downgraded Accel Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. National Bank Financial set a $15.00 price objective on Accel Entertainment in a research report on Wednesday, August 5th. Wall Street Zen downgraded Accel Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Citizens Jmp upped their target price on Accel Entertainment from $14.00 to $15.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 5th. Finally, Citigroup reiterated a “market outperform” rating on shares of Accel Entertainment in a research report on Wednesday, August 5th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Accel Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $14.80.

Accel Entertainment Trading Up 0.8%

Shares of Accel Entertainment stock opened at $12.09 on Tuesday. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.47 and a quick ratio of 2.40. Accel Entertainment has a 1 year low of $9.55 and a 1 year high of $14.00. The firm has a market cap of $981.62 million, a PE ratio of 18.05 and a beta of 1.02. The company has a 50 day simple moving average of $12.47 and a two-hundred day simple moving average of $11.88.

Accel Entertainment (NYSE:ACEL) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). The company had revenue of $368.13 million during the quarter, compared to the consensus estimate of $356.66 million. Accel Entertainment had a return on equity of 22.30% and a net margin of 4.08%. Analysts expect that Accel Entertainment will post 0.7 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Derek Harmer sold 20,000 shares of Accel Entertainment stock in a transaction on Monday, June 15th. The shares were sold at an average price of $13.00, for a total value of $260,000.00. Following the transaction, the insider directly owned 187,827 shares of the company’s stock, valued at $2,441,751. The trade was a 9.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Mark T. Phelan sold 25,000 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $13.00, for a total transaction of $325,000.00. Following the sale, the chief operating officer owned 241,464 shares of the company’s stock, valued at $3,139,032. This represents a 9.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 14.47% of the company’s stock.

Hedge Funds Weigh In On Accel Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. grew its stake in shares of Accel Entertainment by 456.2% in the second quarter. Osaic Holdings Inc. now owns 5,618 shares of the company’s stock worth $66,000 after purchasing an additional 4,608 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Accel Entertainment by 195.9% during the second 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 in the last quarter. EntryPoint Capital LLC bought a new position in shares of Accel Entertainment during the fourth quarter valued at approximately $118,000. Jacobs Levy Equity Management Inc. purchased a new stake in Accel Entertainment in the first quarter worth $110,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in Accel Entertainment in the fourth quarter worth $131,000. 55.39% of the stock is owned by institutional investors.

About Accel Entertainment

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.