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

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

Other research analysts have also recently issued research reports about the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Accel Entertainment in a report on Tuesday, September 22nd. Wells Fargo & Company assumed coverage on shares of Accel Entertainment in a research note on Friday, August 21st. They issued an “equal weight” rating and a $14.00 price target on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Accel Entertainment in a report on Wednesday, August 5th. National Bank Financial set a $15.00 price objective on shares of Accel Entertainment in a research report on Wednesday, August 5th. Finally, Truist Financial lowered their price objective on shares of Accel Entertainment from $14.00 to $13.00 and set a “hold” rating for the company in a research report on Tuesday, October 20th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Accel Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $14.60.

Accel Entertainment Price Performance

Shares of ACEL stock opened at $10.98 on Friday. The business has a fifty day simple moving average of $11.37 and a 200 day simple moving average of $11.91. The company has a market cap of $891.79 million, a P/E ratio of 16.39 and a beta of 1.07. 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 has a twelve month low of $9.55 and a twelve month high of $14.00.

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

Insider Activity

In other news, insider Derek Harmer sold 26,324 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $11.63, for a total value of $306,148.12. Following the sale, the insider directly owned 170,929 shares of the company’s stock, valued at approximately $1,987,904.27. This represents a 13.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 40,036 shares of company stock valued at $465,180. 14.47% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Accel Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership boosted its position in Accel Entertainment by 63.6% during the first 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 during the last quarter. Globeflex Capital L P bought a new position in shares of Accel Entertainment in the 2nd quarter worth about $3,894,000. Lazard Asset Management LLC boosted its position in shares of Accel Entertainment by 17.1% during the 1st quarter. Lazard Asset Management LLC now owns 298,515 shares of the company’s stock valued at $3,257,000 after purchasing an additional 43,663 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Accel Entertainment during the 2nd quarter valued at about $2,643,000. Finally, First Trust Advisors LP boosted its position in shares of Accel Entertainment by 43.0% during the 1st quarter. First Trust Advisors LP now owns 203,057 shares of the company’s stock valued at $2,215,000 after purchasing an additional 61,098 shares in the last quarter. Institutional investors and hedge funds own 55.39% of the company’s stock.

Accel Entertainment Company Profile

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.