Accel Entertainment (NYSE:ACEL) Reaches New 52-Week High – Still a Buy?

Shares of Accel Entertainment, Inc. (NYSE:ACEL) reached a new 52-week high during mid-day trading on Monday. The stock traded as high as $14.00 and last traded at $13.84, with a volume of 80,865 shares. The stock had previously closed at $13.72.

Analyst Ratings Changes

Several equities research analysts have commented on ACEL shares. Citizens Jmp boosted their price objective 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 restated a “market outperform” rating on shares of Accel Entertainment in a research report on Wednesday, August 5th. National Bank Financial set a $15.00 target price on Accel Entertainment in a research report on Wednesday, August 5th. Wells Fargo & Company started coverage on 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. Finally, Truist Financial dropped their price target 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. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.25.

Accel Entertainment Trading Up 0.1%

The company has a quick ratio of 2.20, a current ratio of 2.27 and a debt-to-equity ratio of 1.76. The company’s 50-day moving average is $11.39 and its 200-day moving average is $11.74. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 18.07 and a beta of 1.09.

Accel Entertainment (NYSE:ACEL) last posted its earnings results on Tuesday, November 3rd. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.07. Accel Entertainment had a net margin of 4.49% and a return on equity of 22.62%. The company had revenue of $363.56 million for the quarter, compared to analyst estimates of $358.62 million. Research analysts anticipate that Accel Entertainment, Inc. will post 0.72 earnings per share for the current fiscal year.

Insider Activity at Accel Entertainment

In related news, insider Derek Harmer sold 26,324 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $11.63, for a total value of $306,148.12. Following the completion of the transaction, the insider directly owned 170,929 shares in the company, valued at approximately $1,987,904.27. This represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark Phelan sold 25,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $12.00, for a total value of $300,000.00. Following the sale, the chief executive officer directly owned 216,464 shares of the company’s stock, valued at approximately $2,597,568. This trade represents a 10.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 65,036 shares of company stock valued at $765,180 over the last quarter. 14.47% of the stock is currently owned by company insiders.

Institutional Trading of Accel Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the business. R Squared Ltd raised its stake in shares of Accel Entertainment by 52.2% in the 3rd quarter. R Squared Ltd now owns 39,925 shares of the company’s stock valued at $426,000 after acquiring an additional 13,686 shares during the period. Uhlmann Price Securities LLC acquired a new position in shares of Accel Entertainment in the 3rd quarter worth approximately $203,000. CenterBook Partners LP acquired a new position in shares of Accel Entertainment in the 3rd quarter worth approximately $499,000. Oppenheimer & Co. Inc. purchased a new position in shares of Accel Entertainment during the 3rd quarter worth approximately $128,000. Finally, USA Financial Formulas purchased a new position in shares of Accel Entertainment during the 3rd quarter worth approximately $41,000. 55.39% of the stock is owned by institutional investors and hedge funds.

About Accel Entertainment

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.