Wall Street Zen Upgrades Accel Entertainment (NYSE:ACEL) to Strong-Buy

Key Points

• Wall Street Zen upgraded Accel Entertainment (NYSE:ACEL) from a "buy" to a "strong-buy", while MarketBeat's consensus remains a Moderate Buy with a $14.75 target and four Buy vs three Hold analyst ratings.
• Accel beat its latest quarter with $0.19 EPS vs $0.15 consensus and $341.45M revenue, and trades around a ~$899M market cap with a P/E of 18.38 and a 52‑week range of $9.02–$13.31.
• Insiders have been net sellers, disposing of 889,247 shares worth about $10.15M over the past 90 days, with insiders still owning 18.33% of the stock.

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

ACEL has been the subject of several other reports. Truist Financial increased their price objective on Accel Entertainment from $13.00 to $14.00 and gave the company a "hold" rating in a report on Wednesday, March 4th. Citizens Jmp upped their price target on Accel Entertainment from $13.00 to $14.00 and gave the company a "market outperform" rating in a research report on Wednesday, March 4th. Weiss Ratings downgraded Accel Entertainment from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, March 20th. Finally, Citigroup assumed coverage on Accel Entertainment in a report on Friday, December 5th. They issued an "outperform" rating for the company. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.75.

Accel Entertainment Stock Down 0.1%

ACEL opened at $11.03 on Friday. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.61 and a quick ratio of 2.55. The company's 50-day moving average is $11.20 and its 200 day moving average is $10.92. Accel Entertainment has a fifty-two week low of $9.02 and a fifty-two week high of $13.31. The firm has a market capitalization of $899.31 million, a P/E ratio of 18.38 and a beta of 1.05.

Accel Entertainment (NYSE:ACEL - Get Free Report) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.04. The business had revenue of $341.45 million for the quarter, compared to analysts' expectations of $335.66 million. Accel Entertainment had a return on equity of 27.49% and a net margin of 3.87%. Research analysts expect that Accel Entertainment will post 0.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Accel Entertainment

In other news, Director David W. Ruttenberg sold 10,000 shares of Accel Entertainment stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $11.53, for a total value of $115,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gordon Rubenstein sold 172,943 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $11.37, for a total value of $1,966,361.91. Following the sale, the director directly owned 22,674 shares in the company, valued at $257,803.38. This trade represents a 88.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 889,247 shares of company stock valued at $10,154,547 in the last 90 days. 18.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Accel Entertainment

Institutional investors and hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue bought a new position in shares of Accel Entertainment in the third quarter worth $49,000. Osaic Holdings Inc. boosted its stake in Accel Entertainment by 456.2% during the second quarter. Osaic Holdings Inc. now owns 5,618 shares of the company's stock valued at $66,000 after buying an additional 4,608 shares during the period. Tower Research Capital LLC TRC grew its position in Accel Entertainment by 195.9% during the second quarter. Tower Research Capital LLC TRC now owns 7,099 shares of the company's stock worth $84,000 after buying an additional 4,700 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Accel Entertainment during the first quarter worth about $110,000. Finally, EntryPoint Capital LLC bought a new position in Accel Entertainment in the 4th quarter worth about $118,000. 55.39% of the stock is owned by hedge funds and other institutional investors.

Accel Entertainment Company Profile

Accel Entertainment, Inc is a Chicago-based gaming and entertainment company specializing in the provision of regulated electronic gaming terminals and related management services to licensed establishments across the United States. The company’s core offerings include video gaming terminals (VGTs), digital payment solutions, player loyalty programs and compliance support, all designed to enhance customer engagement and operational efficiency for bars, restaurants, truck stops and convenience stores.

Founded in 2005, Accel Entertainment has built a network that spans multiple states, including Illinois, Pennsylvania, Ohio, and Iowa.

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