Accel Entertainment (NYSE:ACEL) Cut to “Hold” at Wall Street Zen

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

A number of other research firms also recently issued reports on ACEL. Truist Financial set a $14.00 target price on Accel Entertainment in a research report on Wednesday, August 19th. Citizens Jmp increased their price target on Accel Entertainment from $14.00 to $15.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 5th. Citigroup reissued a “market outperform” rating on shares of Accel Entertainment in a research report on Wednesday, August 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Accel Entertainment in a research note on Tuesday, September 22nd. Finally, National Bank Financial set a $15.00 price target on Accel Entertainment in a research note on Wednesday, August 5th. Four 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 company currently has an average rating of “Moderate Buy” and a consensus price target of $14.80.

Accel Entertainment Stock Performance

Shares of ACEL opened at $11.16 on Friday. Accel Entertainment has a 12 month low of $9.55 and a 12 month high of $14.00. The firm has a fifty day simple moving average of $11.60 and a 200 day simple moving average of $11.92. The stock has a market capitalization of $905.92 million, a price-to-earnings ratio of 16.65 and a beta of 1.07. The company has a current ratio of 2.47, a quick ratio of 2.40 and a debt-to-equity ratio of 1.91.

Accel Entertainment (NYSE:ACEL) last issued its quarterly 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). Accel Entertainment had a net margin of 4.08% and a return on equity of 22.30%. The business had revenue of $368.13 million during the quarter, compared to analyst estimates of $356.66 million. Research analysts forecast that Accel Entertainment will post 0.69 EPS for the current fiscal year.

Insider Activity

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 value 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 40,036 shares of company stock valued at $465,180. 14.47% of the stock is currently owned by corporate insiders.

Institutional Trading of Accel Entertainment

A number of hedge funds have recently made changes to their positions in ACEL. Arrowstreet Capital Limited Partnership increased its holdings in shares of Accel Entertainment by 63.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,082,891 shares of the company’s stock valued at $11,814,000 after purchasing an additional 421,047 shares during the last quarter. Globeflex Capital L P bought a new position in shares of Accel Entertainment in the second quarter valued at about $3,894,000. Lazard Asset Management LLC raised its position in shares of Accel Entertainment by 17.1% in the first quarter. Lazard Asset Management LLC now owns 298,515 shares of the company’s stock valued at $3,257,000 after purchasing an additional 43,663 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Accel Entertainment in the second quarter valued at about $2,643,000. Finally, First Trust Advisors LP raised its position in shares of Accel Entertainment by 43.0% in the first quarter. First Trust Advisors LP now owns 203,057 shares of the company’s stock valued at $2,215,000 after purchasing an additional 61,098 shares during the period. 55.39% of the stock is owned by institutional investors and hedge funds.

Accel Entertainment Company Profile

Accel Entertainment, Inc is a distributed gaming operator that provides gaming and amusement services to licensed, non-casino establishments across the United States. The company installs, operates, and maintains gaming terminals and related equipment in locations such as bars, restaurants, taverns, convenience stores, and other hospitality businesses, generally sharing gaming revenue with its establishment partners.

In addition to gaming terminals, Accel offers products and services that may include amusement devices, redemption equipment, ATMs, and other supporting technology.