Accel Entertainment (NYSE:ACEL) Stock Rating Upgraded by Wall Street Zen

Accel Entertainment (NYSE:ACEL) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

ACEL has been the topic of several other research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Accel Entertainment in a report on Tuesday, September 22nd. Citigroup reaffirmed a “market outperform” rating on shares of Accel Entertainment in a research note on Wednesday, August 5th. Wells Fargo & Company began coverage on shares of Accel Entertainment in a report on Friday, August 21st. They issued an “equal weight” rating and a $14.00 price target on the stock. Citizens Jmp boosted their price target on shares of Accel Entertainment from $14.00 to $15.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 5th. Finally, National Bank Financial set a $15.00 price target on shares of Accel Entertainment in a research note on Wednesday, August 5th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Accel Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $14.60.

Accel Entertainment Stock Down 0.1%

NYSE ACEL opened at $10.98 on Friday. Accel Entertainment has a 12 month low of $9.55 and a 12 month high of $14.00. The company has a current ratio of 2.47, a quick ratio of 2.40 and a debt-to-equity ratio of 1.91. The stock has a market cap of $891.79 million, a PE ratio of 16.39 and a beta of 1.07. The stock’s 50 day moving average is $11.37 and its 200 day moving average is $11.92.

Accel Entertainment (NYSE:ACEL) last posted its quarterly earnings results 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 return on equity of 22.30% and a net margin of 4.08%. The business had revenue of $368.13 million during the quarter, compared to the consensus estimate of $356.66 million. Research analysts predict that Accel Entertainment will post 0.69 EPS for the current fiscal year.

Insider Transactions at Accel Entertainment

In other news, insider Derek Harmer sold 13,162 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $11.60, for a total transaction of $152,679.20. Following the sale, the insider directly owned 157,767 shares of the company’s stock, valued at $1,830,097.20. This represents a 7.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 40,036 shares of company stock valued at $465,180. Insiders own 14.47% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. USA Financial Formulas bought a new stake in Accel Entertainment in the third quarter worth $41,000. Versant Capital Management Inc raised its stake in Accel Entertainment by 61.5% during the third quarter. Versant Capital Management Inc now owns 6,676 shares of the company’s stock valued at $71,000 after purchasing an additional 2,542 shares in the last quarter. Globeflex Capital L P purchased a new stake in Accel Entertainment during the second quarter valued at $3,894,000. Bank of New York Mellon Corp bought a new position in Accel Entertainment during the second quarter valued at $2,643,000. Finally, Quantinno Capital Management LP lifted its position in Accel Entertainment by 18.9% during the first quarter. Quantinno Capital Management LP now owns 123,906 shares of the company’s stock valued at $1,352,000 after purchasing an additional 19,734 shares during the last quarter. 55.39% of the stock is currently owned by institutional investors.

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.