Accel Entertainment (NYSE:ACEL) Stock Price Breaks Above 50-Day Moving Average – Here’s Why

Accel Entertainment, Inc. (NYSE:ACEL)’s share price passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $11.30 and traded as high as $11.38. Accel Entertainment shares last traded at $11.3130, with a volume of 331,760 shares traded.

Wall Street Analyst Weigh In

A number of analysts have commented on ACEL shares. National Bank Financial set a $15.00 target price on Accel Entertainment in a report on Wednesday, August 5th. Citizens Jmp boosted their price objective on shares of Accel Entertainment from $14.00 to $15.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 5th. Truist Financial decreased their target price on shares of Accel Entertainment from $14.00 to $13.00 and set a “hold” rating on the stock in a research note on Tuesday, October 20th. Citigroup reiterated a “market outperform” rating on shares of Accel Entertainment in a research report on Wednesday, August 5th. Finally, Wall Street Zen raised Accel Entertainment from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $14.60.

Accel Entertainment Stock Performance

The business’s fifty day moving average price is $11.29 and its two-hundred day moving average price is $11.70. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.40 and a current ratio of 2.47. The stock has a market capitalization of $918.66 million, a P/E ratio of 16.89 and a beta of 1.07.

Accel Entertainment (NYSE:ACEL) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.04). The company had revenue of $368.13 million for the quarter, compared to the consensus estimate of $356.66 million. Accel Entertainment had a return on equity of 22.30% and a net margin of 4.08%. As a group, sell-side analysts forecast that Accel Entertainment, Inc. will post 0.69 earnings per share for the current year.

Insider Buying and Selling

In other Accel Entertainment news, insider Derek Harmer sold 26,324 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $11.63, for a total transaction of $306,148.12. Following the completion of the transaction, the insider owned 170,929 shares in the company, valued at $1,987,904.27. The trade was a 13.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have sold 40,036 shares of company stock worth $465,180. Corporate insiders own 14.47% of the company’s stock.

Hedge Funds Weigh In On Accel Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. acquired a new position in shares of Accel Entertainment in the third quarter valued at about $128,000. USA Financial Formulas acquired a new position in Accel Entertainment in the 3rd quarter worth about $41,000. Versant Capital Management Inc boosted its holdings in Accel Entertainment by 61.5% in the 3rd quarter. Versant Capital Management Inc now owns 6,676 shares of the company’s stock worth $71,000 after buying an additional 2,542 shares during the last quarter. Globeflex Capital L P acquired a new stake in shares of Accel Entertainment in the second quarter valued at about $3,894,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Accel Entertainment during the 2nd quarter worth approximately $2,643,000. 55.39% of the stock is currently owned by institutional investors.

About Accel Entertainment

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.