Accel Entertainment (NYSE:ACEL) Stock Rating Raised to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Accel Entertainment (NYSE:ACEL) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Other research analysts have also issued reports about the stock. Citizens Jmp raised their target price on shares of Accel Entertainment from $14.00 to $15.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 5th. Wells Fargo & Company initiated coverage on Accel Entertainment in a report on Friday, August 21st. They set an “equal weight” rating and a $14.00 target price on the stock. Citigroup restated a “market outperform” rating on shares of Accel Entertainment in a research report on Wednesday, August 5th. National Bank Financial set a $15.00 price target on Accel Entertainment in a report on Wednesday, August 5th. Finally, Truist Financial reduced their price objective on Accel Entertainment from $14.00 to $13.00 and set a “hold” rating on the stock in a research report on Tuesday, October 20th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.25.

Accel Entertainment Price Performance

Shares of NYSE ACEL opened at $13.72 on Friday. The firm has a 50-day simple moving average of $11.39 and a 200-day simple moving average of $11.74. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 18.06 and a beta of 1.09. The company has a quick ratio of 2.40, a current ratio of 2.27 and a debt-to-equity ratio of 1.76. Accel Entertainment has a 52 week low of $9.55 and a 52 week high of $14.00.

Accel Entertainment (NYSE:ACEL) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.07. Accel Entertainment had a net margin of 4.49% and a return on equity of 22.62%. The firm had revenue of $363.56 million for the quarter, compared to the consensus estimate of $358.62 million. On average, equities analysts predict that Accel Entertainment will post 0.72 earnings per share for the current fiscal year.

Insider Transactions at Accel Entertainment

In related news, insider Derek Harmer sold 13,162 shares of the firm’s 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 completion of the sale, the insider directly owned 157,767 shares in the company, valued at approximately $1,830,097.20. This trade represents a 7.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Phelan sold 25,000 shares of the firm’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $12.00, for a total transaction of $300,000.00. Following the sale, the chief executive officer owned 216,464 shares of the company’s stock, valued at approximately $2,597,568. The trade was a 10.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 65,036 shares of company stock valued at $765,180 in the last three months. 14.47% of the stock is currently owned by insiders.

Institutional Trading of Accel Entertainment

Several hedge funds have recently made changes to their positions in ACEL. R Squared Ltd lifted its holdings in Accel Entertainment by 52.2% in the third quarter. R Squared Ltd now owns 39,925 shares of the company’s stock valued at $426,000 after acquiring an additional 13,686 shares during the last quarter. Uhlmann Price Securities LLC purchased a new position in Accel Entertainment in the third quarter worth approximately $203,000. CenterBook Partners LP acquired a new stake in Accel Entertainment during the third quarter worth $499,000. Oppenheimer & Co. Inc. acquired a new stake in Accel Entertainment during the third quarter worth $128,000. Finally, USA Financial Formulas acquired a new stake in Accel Entertainment during the third quarter worth $41,000. Hedge funds and other institutional investors own 55.39% of the company’s stock.

Accel Entertainment Company Profile

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.