Accelevation (NASDAQ:ACCV) Releases Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Key Points

• Accelevation reported quarterly EPS of $0.21, beating the $0.09 consensus estimate by $0.12.
• Company insiders bought 227,700 shares worth about $4.1 million over the past 90 days, including a 200,000-share purchase by CEO Michael Rubiera.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $19.43; seven rate the stock Buy and two Hold.

Accelevation (NASDAQ:ACCV - Get Free Report) released its quarterly earnings data on Thursday. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.12, Zacks reports.

Accelevation Price Performance

NASDAQ ACCV traded up $0.30 on Thursday, reaching $12.21. The company's stock had a trading volume of 1,249,427 shares, compared to its average volume of 1,922,189. Accelevation has a twelve month low of $9.54 and a twelve month high of $18.10.

Insider Activity

In related news, CEO Michael Rubiera acquired 200,000 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were purchased at an average cost of $18.00 per share, with a total value of $3,600,000.00. Following the completion of the transaction, the chief executive officer owned 1,424,285 shares of the company's stock, valued at approximately $25,637,130. This trade represents a 16.34% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Brent Jewell purchased 2,500 shares of the stock in a transaction dated Thursday, October 1st. The shares were bought at an average price of $18.00 per share, for a total transaction of $45,000.00. Following the completion of the acquisition, the chief operating officer owned 304,068 shares in the company, valued at $5,473,224. This represents a 0.83% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 227,700 shares of company stock worth $4,098,600.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ACCV shares. JPMorgan Chase & Co. started coverage on shares of Accelevation in a research report on Monday, October 26th. They issued an "overweight" rating and a $20.00 price objective for the company. Robert W. Baird assumed coverage on shares of Accelevation in a report on Monday, October 26th. They issued an "outperform" rating and a $16.00 price target on the stock. Bank of America began coverage on Accelevation in a report on Monday, October 26th. They set a "buy" rating and a $20.00 price objective for the company. Wall Street Zen raised shares of Accelevation to a "hold" rating in a research report on Saturday, October 10th. Finally, Zacks Research assumed coverage on shares of Accelevation in a research report on Tuesday, October 27th. They issued a "hold" rating for the company. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.43.

Accelevation Company Profile

Accelevation Holdings Corp. designs, manufactures and installs customized structural, electrical and mechanical systems for mission-critical infrastructure. The company primarily serves data centers, including facilities supporting artificial intelligence, cloud computing, hyperscale computing and other high-density technology applications. The company's products and solutions include power distribution equipment, modular infrastructure systems, structural support components, thermal management products and related electrical systems.

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