Accel Entertainment (NYSE:ACEL) Price Target Raised to $15.00 at Citizens Jmp

Key Points

• Citizens JMP raised Accel Entertainment’s price target to $15 from $14 while maintaining a “market outperform” rating, implying 18.76% upside. Analysts overall assign the stock a “Moderate Buy” consensus rating with a $15 target.
• ACEL shares rose 3.9% to $12.63. The company’s latest quarter exceeded revenue expectations with $368.13 million, but adjusted earnings of $0.15 per share missed the $0.19 consensus estimate.
• Insiders sold 104,277 shares worth approximately $1.26 million over the past 90 days, while institutional investors own 55.39% of the stock and several funds increased their positions during the first quarter.

Accel Entertainment (NYSE:ACEL - Get Free Report) had its price objective raised by research analysts at Citizens Jmp from $14.00 to $15.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "market outperform" rating on the stock. Citizens Jmp's target price indicates a potential upside of 18.76% from the stock's current price.

A number of other brokerages have also issued reports on ACEL. Citigroup reaffirmed a "market outperform" rating on shares of Accel Entertainment in a research report on Wednesday. Zacks Research downgraded shares of Accel Entertainment from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 22nd. 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. Wall Street Zen cut shares of Accel Entertainment from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 2nd. Finally, National Bank Financial set a $15.00 price objective on shares of Accel Entertainment in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $15.00.

Accel Entertainment Stock Up 3.9%

Shares of ACEL stock traded up $0.47 during trading hours on Wednesday, reaching $12.63. The company had a trading volume of 85,586 shares, compared to its average volume of 349,082. The company has a market capitalization of $1.03 billion, a P/E ratio of 21.05 and a beta of 1.02. The company has a debt-to-equity ratio of 2.02, a quick ratio of 2.64 and a current ratio of 2.71. Accel Entertainment has a twelve month low of $9.55 and a twelve month high of $14.00. The stock's fifty day simple moving average is $12.49 and its 200 day simple moving average is $11.81.

Accel Entertainment (NYSE:ACEL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.04). The firm had revenue of $368.13 million during the quarter, compared to analyst estimates of $356.66 million. Accel Entertainment had a net margin of 3.79% and a return on equity of 25.70%. As a group, sell-side analysts expect that Accel Entertainment will post 0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Gordon Rubenstein sold 12,931 shares of the company's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $11.55, for a total transaction of $149,353.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mark T. Phelan sold 25,000 shares of the firm's stock in a transaction 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 completion of the sale, the chief operating officer owned 241,464 shares in the company, valued at $3,139,032. The trade was a 9.38% 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. In the last 90 days, insiders sold 104,277 shares of company stock worth $1,259,917. Company insiders own 14.47% of the company's stock.

Institutional Trading of Accel Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in ACEL. Quantinno Capital Management LP boosted its holdings in shares of Accel Entertainment by 18.9% in the first quarter. Quantinno Capital Management LP now owns 123,906 shares of the company's stock valued at $1,352,000 after acquiring an additional 19,734 shares in the last quarter. Lazard Asset Management LLC lifted its position in Accel Entertainment by 17.1% in the first 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 period. Arrowstreet Capital Limited Partnership lifted its position in Accel Entertainment by 63.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,082,891 shares of the company's stock worth $11,814,000 after purchasing an additional 421,047 shares during the period. Caxton Associates LLP bought a new position in Accel Entertainment during the 1st quarter valued at $208,000. Finally, Orvieto Partners L.P. increased its position in shares of Accel Entertainment by 74.8% during the 1st quarter. Orvieto Partners L.P. now owns 133,838 shares of the company's stock valued at $1,460,000 after purchasing an additional 57,292 shares during the period. 55.39% of the stock is currently owned by 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.

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