Truist Financial Issues Pessimistic Forecast for Accel Entertainment (NYSE:ACEL) Stock Price

Key Points

• Truist Financial lowered Accel Entertainment’s price target from $14 to $13 and maintained a “hold” rating, implying 18.88% upside from the prior close.
• Analyst sentiment remains moderately positive overall, with four Buy ratings and three Hold ratings; the consensus target price is $14.60.
• Accel’s shares traded at $10.94, while its latest quarterly results missed earnings expectations despite revenue exceeding forecasts. An insider also sold 26,324 shares, and institutional investors own 55.39% of the stock.

Accel Entertainment (NYSE:ACEL - Get Free Report) had its target price lowered by Truist Financial from $14.00 to $13.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a "hold" rating on the stock. Truist Financial's target price would indicate a potential upside of 18.88% from the company's previous close.

ACEL has been the subject of a number of other reports. Wall Street Zen downgraded shares of Accel Entertainment from a "buy" rating to a "hold" rating in a report on Saturday, October 10th. 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 target price on the stock. Citizens Jmp upped their target price on shares of Accel Entertainment from $14.00 to $15.00 and gave the company a "market outperform" rating in a research note on Wednesday, August 5th. Citigroup reissued a "market outperform" rating on shares of Accel Entertainment in a research report on Wednesday, August 5th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Accel Entertainment in a research report on Tuesday, September 22nd. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $14.60.

Accel Entertainment Stock Performance

ACEL stock traded up $0.09 during midday trading on Tuesday, hitting $10.94. The stock had a trading volume of 68,409 shares, compared to its average volume of 347,228. The firm has a market capitalization of $887.81 million, a price-to-earnings ratio of 16.37 and a beta of 1.07. Accel Entertainment has a 52 week low of $9.55 and a 52 week high of $14.00. The stock has a 50-day simple moving average of $11.48 and a 200 day simple moving average of $11.92. 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 (NYSE:ACEL - Get Free Report) last posted its quarterly 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 business had revenue of $368.13 million for the quarter, compared to analyst estimates of $356.66 million. Accel Entertainment had a return on equity of 22.30% and a net margin of 4.08%. As a group, equities research analysts anticipate that Accel Entertainment will post 0.69 earnings per share for the current year.

Insider Activity at Accel Entertainment

In related news, insider Derek Harmer sold 26,324 shares of the business's stock in a transaction on Friday, September 11th. The stock was sold at an average price of $11.63, for a total value of $306,148.12. Following the sale, the insider owned 170,929 shares of the company's stock, valued at $1,987,904.27. The trade was a 13.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 40,036 shares of company stock worth $465,180. 14.47% of the stock is owned by company insiders.

Institutional Trading of Accel Entertainment

A number of large investors have recently bought and sold shares of ACEL. Versant Capital Management Inc lifted its holdings in Accel Entertainment by 61.5% during the third quarter. Versant Capital Management Inc now owns 6,676 shares of the company's stock worth $71,000 after acquiring an additional 2,542 shares in the last quarter. USA Financial Formulas acquired a new position in Accel Entertainment in the third quarter valued at about $41,000. Caxton Associates LLP bought a new stake in shares of Accel Entertainment in the first quarter worth about $208,000. Quantinno Capital Management LP increased 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 worth $1,352,000 after acquiring an additional 19,734 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Accel Entertainment by 66.3% in the first quarter. Sei Investments Co. now owns 68,586 shares of the company's stock worth $748,000 after acquiring an additional 27,349 shares in the last quarter. 55.39% of the stock is currently owned by institutional investors.

About Accel Entertainment

Accel Entertainment, Inc is a distributed gaming operator that provides gaming and amusement services to licensed, non-casino establishments across the United States. The company installs, operates, and maintains gaming terminals and related equipment in locations such as bars, restaurants, taverns, convenience stores, and other hospitality businesses, generally sharing gaming revenue with its establishment partners.

In addition to gaming terminals, Accel offers products and services that may include amusement devices, redemption equipment, ATMs, and other supporting technology.

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