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

Key Points

• Wall Street Zen downgraded Accel Entertainment from “buy” to “hold,” although broader analyst sentiment remains “Moderate Buy” with a consensus price target of $14.80.
• ACEL shares opened at $12.07, while the company’s latest quarterly earnings missed expectations at $0.15 per share versus a $0.19 consensus estimate; revenue of $368.13 million exceeded forecasts.
• Company insiders sold shares worth a combined $585,000 under pre-arranged trading plans, while institutional investors continued increasing their positions; institutions and hedge funds own 55.39% of the stock.

Accel Entertainment (NYSE:ACEL - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

ACEL has been the topic of a number of other reports. Truist Financial set a $14.00 price objective on shares of Accel Entertainment in a research note on Wednesday. National Bank Financial set a $15.00 target price on shares of Accel Entertainment in a research report on Wednesday, August 5th. Zacks Research cut shares of Accel Entertainment from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 22nd. Citigroup reissued a "market outperform" rating on shares of Accel Entertainment in a research note on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Accel Entertainment from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, June 26th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.80.

Accel Entertainment Stock Performance

Shares of ACEL stock opened at $12.07 on Friday. Accel Entertainment has a 12-month low of $9.55 and a 12-month high of $14.00. The firm has a market capitalization of $979.96 million, a price-to-earnings ratio of 18.02 and a beta of 1.02. The business has a 50 day simple moving average of $12.45 and a 200 day simple moving average of $11.88. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.47 and a quick ratio of 2.40.

Accel Entertainment (NYSE:ACEL - Get Free Report) last announced its 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 net margin of 4.08% and a return on equity of 22.30%. The business had revenue of $368.13 million for the quarter, compared to the consensus estimate of $356.66 million. On average, equities research analysts anticipate that Accel Entertainment will post 0.69 EPS for the current year.

Insider Buying and Selling at Accel Entertainment

In other news, COO Mark T. Phelan sold 25,000 shares of the business's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $13.00, for a total value of $325,000.00. Following the sale, the chief operating officer owned 241,464 shares of the company's stock, valued at approximately $3,139,032. The trade was a 9.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Derek Harmer sold 20,000 shares of the company'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 $260,000.00. Following the completion of the sale, the insider owned 187,827 shares of the company's stock, valued at approximately $2,441,751. This trade represents a 9.62% 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. 14.47% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Accel Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the business. Y Intercept Hong Kong Ltd grew its position in Accel Entertainment by 249.3% in the first quarter. Y Intercept Hong Kong Ltd now owns 139,441 shares of the company's stock worth $1,521,000 after buying an additional 99,521 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Accel Entertainment by 63.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,082,891 shares of the company's stock valued at $11,814,000 after buying an additional 421,047 shares in the last quarter. UBS Group AG lifted its position in shares of Accel Entertainment by 71.6% during the 4th quarter. UBS Group AG now owns 200,736 shares of the company's stock valued at $2,290,000 after acquiring an additional 83,725 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of Accel Entertainment by 17.1% during the 1st quarter. Lazard Asset Management LLC now owns 298,515 shares of the company's stock valued at $3,257,000 after acquiring an additional 43,663 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of Accel Entertainment by 105.6% during the 4th quarter. Hsbc Holdings PLC now owns 118,610 shares of the company's stock worth $1,352,000 after acquiring an additional 60,917 shares in the last quarter. 55.39% of the stock is owned by institutional investors and hedge funds.

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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