Truist Financial Upgrades Accel Entertainment (NYSE:ACEL) to “Hold”

Accel Entertainment (NYSE:ACEL) was upgraded by research analysts at Truist Financial to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the company. Zacks Research cut Accel Entertainment from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. National Bank Financial set a $15.00 price target on Accel Entertainment in a research note on Wednesday, August 5th. Citizens Jmp upped their price target 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. Citigroup reaffirmed a “market outperform” rating on shares of Accel Entertainment in a report on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 26th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Accel Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $14.80.

Accel Entertainment Stock Performance

NYSE ACEL opened at $12.09 on Tuesday. The firm has a market cap of $981.62 million, a price-to-earnings ratio of 18.05 and a beta of 1.02. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.47 and a quick ratio of 2.40. The company has a fifty day moving average price of $12.47 and a 200-day moving average price of $11.88. Accel Entertainment has a 1 year low of $9.55 and a 1 year high of $14.00.

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

Insider Activity at Accel Entertainment

In related news, COO Mark T. Phelan sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $13.00, for a total value of $325,000.00. Following the sale, the chief operating officer owned 241,464 shares in the company, valued at approximately $3,139,032. This trade represents a 9.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Derek Harmer sold 20,000 shares of Accel Entertainment stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $13.00, for a total transaction of $260,000.00. Following the completion of the sale, the insider directly owned 187,827 shares of the company’s stock, valued at approximately $2,441,751. This trade represents a 9.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 14.47% of the stock is owned by insiders.

Hedge Funds Weigh In On Accel Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. boosted its stake in shares of Accel Entertainment by 456.2% in the 2nd quarter. Osaic Holdings Inc. now owns 5,618 shares of the company’s stock worth $66,000 after buying an additional 4,608 shares during the last quarter. Tower Research Capital LLC TRC increased its position in 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 during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Accel Entertainment in the first quarter valued at about $110,000. EntryPoint Capital LLC purchased a new position in Accel Entertainment in the fourth quarter worth about $118,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Accel Entertainment during the 4th quarter valued at about $131,000. 55.39% of the stock is currently owned by hedge funds and other institutional investors.

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.