Accel Entertainment (NYSE:ACEL) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Monday, Zacks.com reports. The brokerage currently has a $14.00 target price on the stock. Zacks Investment Research's price target would indicate a potential upside of 12.54% from the company's previous close.
According to Zacks, "Accel Entertainment Inc. is a distributed gaming operator primarily in the United States. The company's business consists of the installation, maintenance and operation of VGTs, redemption devices which disburse winnings and contain ATM functionality, other amusement devices in authorized non-casino locations such as restaurants, bars, taverns, convenience stores, liquor stores, truck stops and grocery stores. Accel Entertainment Inc., formerly known as TPG Pace Holdings Corp., is based in Fort Worth, Texas. "
A number of other brokerages have also issued reports on ACEL. Deutsche Bank Aktiengesellschaft upgraded shares of Accel Entertainment from a "hold" rating to a "buy" rating and raised their target price for the stock from $14.00 to $17.00 in a research report on Monday, November 8th. TheStreet upgraded shares of Accel Entertainment from a "c" rating to a "b-" rating in a research report on Monday, November 22nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $15.58.
Accel Entertainment stock traded up $0.06 during mid-day trading on Monday, hitting $12.44. The company had a trading volume of 19,361 shares, compared to its average volume of 214,987. The stock has a market cap of $1.17 billion, a PE ratio of 52.38 and a beta of 1.20. Accel Entertainment has a 1 year low of $8.82 and a 1 year high of $14.10. The company has a debt-to-equity ratio of 1.89, a quick ratio of 3.03 and a current ratio of 3.03. The business has a fifty day moving average of $12.39.
Accel Entertainment (NYSE:ACEL) last announced its quarterly earnings results on Wednesday, November 3rd. The company reported $0.18 EPS for the quarter, meeting the Thomson Reuters' consensus estimate of $0.18. Accel Entertainment had a net margin of 3.71% and a return on equity of 33.87%. During the same period last year, the company earned $0.18 EPS. As a group, equities analysts expect that Accel Entertainment will post 0.77 EPS for the current year.
In related news, insider Derek Harmer sold 8,000 shares of Accel Entertainment stock in a transaction on Wednesday, September 15th. The shares were sold at an average price of $11.12, for a total value of $88,960.00. Following the transaction, the insider now directly owns 237,447 shares in the company, valued at approximately $2,640,410.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David W. Ruttenberg sold 60,367 shares of Accel Entertainment stock in a transaction on Friday, October 1st. The shares were sold at an average price of $12.58, for a total transaction of $759,416.86. The disclosure for this sale can be found here. Over the last quarter, insiders sold 295,697 shares of company stock worth $3,759,515. 18.76% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in Accel Entertainment by 15.0% in the third quarter. Royal Bank of Canada now owns 7,542 shares of the company's stock valued at $92,000 after acquiring an additional 986 shares during the period. ProShare Advisors LLC increased its holdings in Accel Entertainment by 8.3% during the 2nd quarter. ProShare Advisors LLC now owns 14,613 shares of the company's stock valued at $173,000 after acquiring an additional 1,122 shares in the last quarter. Deutsche Bank AG raised its position in Accel Entertainment by 3.5% during the second quarter. Deutsche Bank AG now owns 35,349 shares of the company's stock worth $420,000 after acquiring an additional 1,184 shares during the last quarter. Voya Investment Management LLC lifted its holdings in shares of Accel Entertainment by 6.6% in the third quarter. Voya Investment Management LLC now owns 23,422 shares of the company's stock valued at $284,000 after purchasing an additional 1,457 shares in the last quarter. Finally, California State Teachers Retirement System lifted its holdings in shares of Accel Entertainment by 1.9% in the second quarter. California State Teachers Retirement System now owns 77,595 shares of the company's stock valued at $921,000 after purchasing an additional 1,461 shares in the last quarter. 39.58% of the stock is owned by institutional investors.
Accel Entertainment Company Profile
Accel Entertainment, Inc engages in the installation and operation of video gaming terminals in licensed video gaming locations. It also operates stand-alone ATMs in gaming and non-gaming locations. The company was founded by Andrew Rubenstein and Gordon Rubenstein on December 8, 2010 and is headquartered in Burr Ridge, IL.
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