Accel Entertainment (NYSE:ACEL) Stock Moved Up to Buy by Wall Street Zen

Key Points

• Wall Street Zen upgraded Accel Entertainment from “hold” to “buy,” while the broader analyst consensus remains “Moderate Buy,” with four Buy ratings and three Holds and an average price target of $14.60.
• Accel shares opened at $10.98, near the lower half of their 12-month range of $9.55 to $14.00. The company’s latest quarterly revenue of $368.13 million exceeded estimates, but earnings per share of $0.15 fell short of the $0.19 consensus.
• Institutional investors own 55.39% of the stock, with several funds increasing their positions, while company insiders have sold 40,036 shares worth about $465,180 over the past 90 days.

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

Other equities research analysts have also recently issued research reports about the stock. National Bank Financial set a $15.00 target price on shares of Accel Entertainment in a research note on Wednesday, August 5th. Truist Financial reduced their target price on shares of Accel Entertainment from $14.00 to $13.00 and set a "hold" rating for the company in a research report on Tuesday. Wells Fargo & Company began coverage on shares of Accel Entertainment in a research note on Friday, August 21st. They issued an "equal weight" rating and a $14.00 price target on the stock. Citigroup reissued a "market outperform" rating on shares of Accel Entertainment in a research note on Wednesday, August 5th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Accel Entertainment in a research report on Tuesday, September 22nd. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $14.60.

Accel Entertainment Trading Up 0.1%

ACEL stock opened at $10.98 on Friday. 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 stock has a market cap of $891.79 million, a price-to-earnings ratio of 16.39 and a beta of 1.07. The business's 50-day moving average is $11.37 and its 200 day moving average is $11.91.

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

Insider Transactions at Accel Entertainment

In other Accel Entertainment news, insider Derek Harmer sold 13,162 shares of Accel Entertainment stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $11.60, for a total transaction of $152,679.20. Following the transaction, the insider directly owned 157,767 shares of the company's stock, valued at $1,830,097.20. The trade was a 7.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 40,036 shares of company stock worth $465,180 in the last ninety days. 14.47% of the stock is currently owned by company insiders.

Institutional Trading of Accel Entertainment

Several hedge funds have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its position in shares of Accel Entertainment by 63.6% during the 1st 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 during the period. Globeflex Capital L P acquired a new stake in Accel Entertainment during the second quarter worth $3,894,000. Bank of New York Mellon Corp purchased a new stake in Accel Entertainment in the second quarter valued at $2,643,000. Y Intercept Hong Kong Ltd raised 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 valued at $1,521,000 after purchasing an additional 99,521 shares during the period. Finally, First Trust Advisors LP raised its position in Accel Entertainment by 43.0% in the first quarter. First Trust Advisors LP now owns 203,057 shares of the company's stock valued at $2,215,000 after purchasing an additional 61,098 shares during the period. Hedge funds and other institutional investors own 55.39% of the company's stock.

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.

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