Accel Entertainment (NYSE:ACEL) Upgraded by Zacks Research to "Strong-Buy" Rating

Key Points

• Zacks Research upgraded Accel Entertainment to a Strong-Buy, joining several recent analyst upgrades and leaving a MarketBeat consensus rating of Buy with a $14.75 price target.
• Accel beat estimates last quarter with EPS of $0.19 versus $0.15 expected and revenue of $341.45 million; the shares trade around $11.83 with a market cap near $965 million and a P/E of about 19.7.
• Corporate insiders have sold 864,247 shares worth roughly $9.87 million in the past three months (including large director sales), although insiders still own about 14.47% of the company.

Accel Entertainment (NYSE:ACEL - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research analysts have also recently commented on ACEL. Weiss Ratings upgraded shares of Accel Entertainment from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, April 9th. Wall Street Zen upgraded shares of Accel Entertainment from a "buy" rating to a "strong-buy" rating in a report on Saturday, April 4th. Truist Financial raised their target price on shares of Accel Entertainment from $13.00 to $14.00 and gave the stock a "hold" rating in a report on Wednesday, March 4th. Finally, Citizens Jmp raised their target price on shares of Accel Entertainment from $13.00 to $14.00 and gave the stock a "market outperform" rating in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $14.75.

Accel Entertainment Trading Up 0.1%

Shares of Accel Entertainment stock opened at $11.83 on Monday. The business has a fifty day simple moving average of $11.30 and a 200-day simple moving average of $10.97. The firm has a market cap of $964.65 million, a price-to-earnings ratio of 19.71 and a beta of 1.05. The company has a quick ratio of 2.55, a current ratio of 2.61 and a debt-to-equity ratio of 2.11. Accel Entertainment has a fifty-two week low of $9.55 and a fifty-two week high of $13.31.

Accel Entertainment (NYSE:ACEL - Get Free Report) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.04. The firm had revenue of $341.45 million for the quarter, compared to analysts' expectations of $335.66 million. Accel Entertainment had a return on equity of 27.49% and a net margin of 3.87%. On average, equities analysts forecast that Accel Entertainment will post 0.69 EPS for the current fiscal year.

Insider Buying and Selling at Accel Entertainment

In other Accel Entertainment news, Director Gordon Rubenstein sold 228,262 shares of the firm's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $11.37, for a total transaction of $2,595,338.94. Following the transaction, the director directly owned 313,903 shares in the company, valued at $3,569,077.11. This trade represents a 42.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Derek Harmer sold 20,000 shares of the firm's stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $11.39, for a total value of $227,800.00. Following the transaction, the insider owned 179,963 shares in the company, valued at approximately $2,049,778.57. This trade represents a 10.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 864,247 shares of company stock worth $9,865,047 over the last three months. Corporate insiders own 14.47% of the company's stock.

Institutional Investors Weigh In On Accel Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Hsbc Holdings PLC grew its position in shares of Accel Entertainment by 105.6% in the fourth quarter. Hsbc Holdings PLC now owns 118,610 shares of the company's stock valued at $1,352,000 after purchasing an additional 60,917 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Accel Entertainment during the fourth quarter worth approximately $131,000. EP Wealth Advisors LLC acquired a new position in shares of Accel Entertainment during the fourth quarter worth approximately $255,000. Empowered Funds LLC acquired a new position in shares of Accel Entertainment during the fourth quarter worth approximately $1,032,000. Finally, XTX Topco Ltd acquired a new position in shares of Accel Entertainment during the fourth quarter worth approximately $410,000. 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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