Accel Entertainment (NYSE:ACEL) Upgraded at Wall Street Zen

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

Several other research firms also recently issued reports on ACEL. Citizens Jmp upped their price objective on shares of Accel Entertainment from $14.00 to $15.00 and gave the company a “market outperform” rating in a report on Wednesday, August 5th. Truist Financial lowered their target price on shares of Accel Entertainment from $14.00 to $13.00 and set a “hold” rating for the company in a research note on Tuesday, October 20th. National Bank Financial set a $15.00 target price on shares of Accel Entertainment in a research note on Wednesday, August 5th. Wells Fargo & Company assumed coverage on shares of Accel Entertainment in a research report on Friday, August 21st. They set an “equal weight” rating and a $14.00 target price on the stock. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Accel Entertainment in a research note on Tuesday, September 22nd. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $14.60.

Accel Entertainment Stock Up 2.6%

Shares of ACEL stock opened at $11.29 on Friday. Accel Entertainment has a 1-year low of $9.55 and a 1-year high of $14.00. The stock’s fifty day moving average price is $11.35 and its 200 day moving average price is $11.71. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.47 and a quick ratio of 2.40. The company has a market cap of $916.23 million, a price-to-earnings ratio of 16.84 and a beta of 1.07.

Accel Entertainment (NYSE:ACEL) last announced its earnings results on Tuesday, August 4th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.04). The business had revenue of $368.13 million for the quarter, compared to analyst estimates of $356.66 million. Accel Entertainment had a net margin of 4.08% and a return on equity of 22.30%. On average, research analysts expect that Accel Entertainment will post 0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Accel Entertainment news, insider Derek Harmer sold 13,162 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $11.60, for a total transaction of $152,679.20. Following the sale, the insider owned 157,767 shares in the company, valued at approximately $1,830,097.20. The trade was a 7.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 40,036 shares of company stock worth $465,180. Insiders own 14.47% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its holdings in Accel Entertainment by 63.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,082,891 shares of the company’s stock worth $11,814,000 after buying an additional 421,047 shares during the period. Globeflex Capital L P acquired a new stake in Accel Entertainment during the 2nd quarter valued at approximately $3,894,000. Lazard Asset Management LLC lifted its stake in Accel Entertainment by 17.1% during the 1st quarter. Lazard Asset Management LLC now owns 298,515 shares of the company’s stock valued at $3,257,000 after acquiring an additional 43,663 shares during the period. Bank of New York Mellon Corp acquired a new stake in Accel Entertainment during the 2nd quarter valued at approximately $2,643,000. Finally, First Trust Advisors LP boosted its holdings in shares of Accel Entertainment by 43.0% in the 1st quarter. First Trust Advisors LP now owns 203,057 shares of the company’s stock valued at $2,215,000 after acquiring an additional 61,098 shares during the last quarter. 55.39% of the stock is owned by institutional investors and hedge funds.

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.