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

Accel Entertainment (NYSE:ACEL) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

ACEL has been the subject of several other reports. Truist Financial increased their price target on Accel Entertainment from $13.00 to $14.00 and gave the company a “hold” rating in a research report on Wednesday, March 4th. Citigroup began coverage on Accel Entertainment in a research report on Friday, December 5th. They set an “outperform” rating on the stock. Citizens Jmp upped their price objective on Accel Entertainment from $13.00 to $14.00 and gave the stock a “market outperform” rating in a research note on Wednesday, March 4th. Finally, Weiss Ratings downgraded Accel Entertainment from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 20th. Four 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.75.

Accel Entertainment Stock Down 0.1%

Accel Entertainment stock opened at $11.03 on Friday. The company has a current ratio of 2.61, a quick ratio of 2.55 and a debt-to-equity ratio of 2.11. Accel Entertainment has a 1-year low of $9.02 and a 1-year high of $13.31. The company has a fifty day simple moving average of $11.20 and a 200 day simple moving average of $10.92. The company has a market cap of $899.31 million, a P/E ratio of 18.38 and a beta of 1.05.

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

Insider Activity

In related news, Director Gordon Rubenstein sold 228,262 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $11.37, for a total value of $2,595,338.94. Following the transaction, the director owned 313,903 shares in the company, valued at approximately $3,569,077.11. This represents a 42.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Derek Harmer sold 20,000 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $11.39, for a total transaction of $227,800.00. Following the completion of the transaction, the insider directly owned 179,963 shares in the company, valued at approximately $2,049,778.57. This represents a 10.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 889,247 shares of company stock valued at $10,154,547 over the last ninety days. 18.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Accel Entertainment

A number of institutional investors have recently made changes to their positions in the company. Hill Path Capital LP bought a new position in shares of Accel Entertainment during the second quarter worth approximately $32,828,000. CIBC Bancorp USA Inc. bought a new stake in Accel Entertainment in the 3rd quarter valued at $4,368,000. Millennium Management LLC boosted its stake in Accel Entertainment by 252.5% in the 1st quarter. Millennium Management LLC now owns 502,521 shares of the company’s stock valued at $4,985,000 after purchasing an additional 359,948 shares during the period. Goldman Sachs Group Inc. grew its holdings in Accel Entertainment by 177.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 548,952 shares of the company’s stock valued at $6,264,000 after buying an additional 351,012 shares in the last quarter. Finally, Visualize Group LP acquired a new position in Accel Entertainment in the 3rd quarter valued at $2,280,000. Institutional investors own 55.39% of the company’s stock.

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.