Accel Entertainment (NYSE:ACEL) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Accel Entertainment (NYSE:ACEL) from a hold rating to a buy rating in a report released on Saturday morning,Wall Street Zen reports.

Other research analysts have also recently issued research reports about the company. Citigroup restated a “market outperform” rating on shares of Accel Entertainment in a research report on Wednesday, August 5th. Weiss Ratings raised shares of Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Citizens Jmp increased their price objective on shares of Accel Entertainment from $14.00 to $15.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 5th. Zacks Research lowered shares of Accel Entertainment from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Finally, Truist Financial set a $14.00 target price on shares of Accel Entertainment in a research report on Wednesday, August 19th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Accel Entertainment has an average rating of “Moderate Buy” and a consensus price target of $14.80.

Accel Entertainment Stock Performance

Shares of NYSE:ACEL opened at $11.26 on Friday. The company’s 50 day moving average price is $11.99 and its two-hundred day moving average price is $11.96. Accel Entertainment has a 12-month low of $9.55 and a 12-month high of $14.00. The firm has a market cap of $914.52 million, a PE ratio of 16.81 and a beta of 1.01. The company has a quick ratio of 2.40, a current ratio of 2.47 and a debt-to-equity ratio of 1.91.

Accel Entertainment (NYSE:ACEL) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). The business had revenue of $368.13 million during the quarter, compared to analyst estimates of $356.66 million. Accel Entertainment had a net margin of 4.08% and a return on equity of 22.30%. Equities research analysts predict that Accel Entertainment will post 0.69 earnings per share for the current year.

Insider Buying and Selling at Accel Entertainment

In related news, insider Derek Harmer sold 13,162 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $11.60, for a total transaction of $152,679.20. Following the completion of the transaction, the insider directly owned 157,767 shares in the company, valued at $1,830,097.20. This represents a 7.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have sold 40,036 shares of company stock valued at $465,180. Company insiders own 14.47% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Accel Entertainment by 63.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,082,891 shares of the company’s stock valued at $11,814,000 after acquiring an additional 421,047 shares in the last quarter. Globeflex Capital L P bought a new position in Accel Entertainment in the 2nd quarter valued at approximately $3,894,000. Lazard Asset Management LLC boosted its position in Accel Entertainment by 17.1% during the 1st quarter. Lazard Asset Management LLC now owns 298,515 shares of the company’s stock worth $3,257,000 after buying an additional 43,663 shares during the period. Bank of New York Mellon Corp acquired a new stake in Accel Entertainment during the 2nd quarter worth approximately $2,643,000. Finally, UBS Group AG increased its position in Accel Entertainment by 71.6% in the 4th quarter. UBS Group AG now owns 200,736 shares of the company’s stock valued at $2,290,000 after acquiring an additional 83,725 shares during the period. 55.39% of the stock is currently owned by institutional investors.

Accel Entertainment Company Profile

Accel Entertainment, Inc is a distributed gaming operator that provides regulated gaming services through a network of electronic gaming terminals placed in licensed third-party establishments. The company’s host locations include bars, restaurants, taverns, convenience stores, truck stops and other businesses that offer gaming as an additional customer amenity.

Accel typically manages the full gaming operation for its partners, including the installation, maintenance and servicing of gaming terminals, game content, regulatory compliance, cash management and player-support functions.