Accel Entertainment (NYSE:ACEL) Downgraded by Wall Street Zen to Hold

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

A number of other brokerages have also issued reports on ACEL. Truist Financial set a $14.00 target price on Accel Entertainment in a research report on Wednesday, August 19th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Accel Entertainment in a research note on Tuesday, September 22nd. Citizens Jmp boosted their price objective on Accel Entertainment from $14.00 to $15.00 and gave the company a “market outperform” rating in a report on Wednesday, August 5th. Citigroup reissued a “market outperform” rating on shares of Accel Entertainment in a research note on Wednesday, August 5th. Finally, Wells Fargo & Company initiated coverage on Accel Entertainment in a report on Friday, August 21st. They set an “equal weight” rating and a $14.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $14.80.

Accel Entertainment Trading Down 0.9%

NYSE ACEL opened at $10.99 on Friday. 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 stock has a market capitalization of $892.68 million, a P/E ratio of 16.41 and a beta of 1.07. The firm’s 50-day moving average is $11.62 and its two-hundred day moving average is $11.91. Accel Entertainment has a 12 month low of $9.55 and a 12 month high of $14.00.

Accel Entertainment (NYSE:ACEL) last released its quarterly earnings results 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). Accel Entertainment had a net margin of 4.08% and a return on equity of 22.30%. The company had revenue of $368.13 million during the quarter, compared to analysts’ expectations of $356.66 million. On average, sell-side analysts anticipate 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 firm’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 value of $152,679.20. Following the sale, the insider owned 157,767 shares of the company’s stock, valued at $1,830,097.20. This trade represents a 7.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 40,036 shares of company stock worth $465,180 in the last 90 days. 14.47% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Accel Entertainment

Institutional investors have recently modified their holdings of the company. Versant Capital Management Inc grew its position in shares of Accel Entertainment by 61.5% during the third quarter. Versant Capital Management Inc now owns 6,676 shares of the company’s stock worth $71,000 after acquiring an additional 2,542 shares during the last quarter. Globeflex Capital L P purchased a new stake in Accel Entertainment in the 2nd quarter valued at $3,894,000. Bank of New York Mellon Corp acquired a new stake in Accel Entertainment during the 2nd quarter worth $2,643,000. Quantinno Capital Management LP boosted its stake in Accel Entertainment by 18.9% during the 1st quarter. Quantinno Capital Management LP now owns 123,906 shares of the company’s stock worth $1,352,000 after purchasing an additional 19,734 shares during the period. Finally, Lazard Asset Management LLC grew 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 purchasing an additional 43,663 shares during the last quarter. 55.39% of the stock is owned by hedge funds and other institutional investors.

Accel Entertainment Company Profile

Accel Entertainment, Inc is a distributed gaming operator that provides gaming and amusement services to licensed, non-casino establishments across the United States. The company installs, operates, and maintains gaming terminals and related equipment in locations such as bars, restaurants, taverns, convenience stores, and other hospitality businesses, generally sharing gaming revenue with its establishment partners.

In addition to gaming terminals, Accel offers products and services that may include amusement devices, redemption equipment, ATMs, and other supporting technology.