Accel Entertainment (NYSE:ACEL) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Accel Entertainment from “hold” to “buy,” contributing to a consensus “Moderate Buy” rating and an average price target of $14.80.
• Accel reported quarterly earnings of $0.15 per share, missing estimates of $0.19, though revenue of $368.13 million exceeded expectations of $356.66 million.
• Institutional investors own 55.39% of the company, while insiders have sold 40,036 shares worth approximately $465,180 over the past 90 days.

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

A number of other equities research analysts have also weighed in on the stock. Truist Financial set a $14.00 price objective on shares of Accel Entertainment in a report on Wednesday, August 19th. Weiss Ratings raised shares of Accel Entertainment from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, June 26th. Zacks Research cut shares of Accel Entertainment from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 22nd. 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, Wells Fargo & Company assumed coverage on shares of Accel Entertainment in a research report on Friday, August 21st. They set an "equal weight" rating and a $14.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.80.

Accel Entertainment Price Performance

Shares of Accel Entertainment stock opened at $11.26 on Friday. The firm has a market capitalization of $914.52 million, a PE ratio of 16.81 and a beta of 1.01. The company has a current ratio of 2.47, a quick ratio of 2.40 and a debt-to-equity ratio of 1.91. Accel Entertainment has a 12 month low of $9.55 and a 12 month high of $14.00. The business's 50-day moving average price is $11.99 and its 200-day moving average price is $11.96.

Accel Entertainment (NYSE:ACEL - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.15 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.04). The firm had revenue of $368.13 million during the quarter, compared to the consensus estimate of $356.66 million. Accel Entertainment had a return on equity of 22.30% and a net margin of 4.08%. Sell-side analysts forecast that Accel Entertainment will post 0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Derek Harmer sold 13,162 shares of the 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 completion of the sale, the insider owned 157,767 shares of the company's stock, valued at approximately $1,830,097.20. This represents a 7.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 40,036 shares of company stock valued at $465,180 in the last ninety days. Insiders own 14.47% of the company's stock.

Institutional Investors Weigh In On Accel Entertainment

Institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its position 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 acquiring an additional 421,047 shares during the period. Globeflex Capital L P purchased a new stake in shares of Accel Entertainment during the second quarter worth about $3,894,000. Lazard Asset Management LLC boosted its holdings in shares of Accel Entertainment by 17.1% during 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. Bank of New York Mellon Corp bought a new stake in shares of Accel Entertainment in the second quarter worth about $2,643,000. Finally, First Trust Advisors LP grew its stake in shares of Accel Entertainment by 43.0% in the first quarter. First Trust Advisors LP now owns 203,057 shares of the company's stock worth $2,215,000 after purchasing an additional 61,098 shares during the last quarter. Hedge funds and other institutional investors own 55.39% of the company's stock.

Accel Entertainment Company Profile

Accel Entertainment, Inc is a distributed gaming operator that provides regulated gaming services through a network of electronic gaming terminals placed in licensed third-party establishments. The company's host locations include bars, restaurants, taverns, convenience stores, truck stops and other businesses that offer gaming as an additional customer amenity.

Accel typically manages the full gaming operation for its partners, including the installation, maintenance and servicing of gaming terminals, game content, regulatory compliance, cash management and player-support functions.

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