Wall Street Zen Upgrades Accel Entertainment (NYSE:ACEL) to “Strong-Buy”

Accel Entertainment (NYSE:ACEL) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also weighed in on ACEL. Truist Financial decreased their target price on Accel Entertainment from $14.00 to $13.00 and set a “hold” rating for the company in a research report on Tuesday, October 20th. Wells Fargo & Company initiated coverage on shares of Accel Entertainment in a research report on Friday, August 21st. They issued an “equal weight” rating and a $14.00 price objective for the company. Citigroup reiterated a “market outperform” rating on shares of Accel Entertainment in a research note on Wednesday, August 5th. National Bank Financial set a $15.00 price objective on shares of Accel Entertainment in a report on Wednesday, August 5th. Finally, Citizens Jmp lifted their target price on Accel Entertainment from $14.00 to $15.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 5th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.25.

Accel Entertainment Stock Up 0.0%

Shares of ACEL opened at $13.72 on Friday. The business has a fifty day moving average of $11.39 and a 200 day moving average of $11.74. The company has a market cap of $1.11 billion, a PE ratio of 18.06 and a beta of 1.09. The company has a quick ratio of 2.20, a current ratio of 2.27 and a debt-to-equity ratio of 1.76. Accel Entertainment has a 52-week low of $9.55 and a 52-week high of $14.00.

Accel Entertainment (NYSE:ACEL) last released its quarterly 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. The firm had revenue of $363.56 million during the quarter, compared to analysts’ expectations of $358.62 million. Accel Entertainment had a net margin of 4.49% and a return on equity of 22.62%. On average, sell-side analysts expect that Accel Entertainment will post 0.72 EPS for the current year.

Insider Buying and Selling at Accel Entertainment

In other news, insider Derek Harmer sold 13,162 shares of the business’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 completion of the transaction, the insider owned 157,767 shares of the company’s stock, valued at $1,830,097.20. The trade was a 7.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark T. Phelan sold 25,000 shares of Accel Entertainment stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $12.00, for a total value of $300,000.00. Following the transaction, the chief executive officer owned 216,464 shares of the company’s stock, valued at approximately $2,597,568. This represents a 10.35% 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. Over the last ninety days, insiders sold 65,036 shares of company stock worth $765,180. 14.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Accel Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in ACEL. Arrowstreet Capital Limited Partnership lifted its stake in shares of Accel Entertainment by 63.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,082,891 shares of the company’s stock valued at $11,814,000 after purchasing an additional 421,047 shares during the period. Globeflex Capital L P purchased a new stake in Accel Entertainment during the second quarter worth $3,894,000. Bank of New York Mellon Corp purchased a new stake in Accel Entertainment during the second quarter worth $2,643,000. Y Intercept Hong Kong Ltd grew its position in Accel Entertainment by 249.3% during the first quarter. Y Intercept Hong Kong Ltd now owns 139,441 shares of the company’s stock valued at $1,521,000 after buying an additional 99,521 shares during the period. Finally, First Trust Advisors LP grew its position in Accel Entertainment by 43.0% during the first quarter. First Trust Advisors LP now owns 203,057 shares of the company’s stock valued at $2,215,000 after buying an additional 61,098 shares during the period. 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.