Accel Entertainment (NYSE:ACEL) Sets New 12-Month High – What’s Next?

Accel Entertainment, Inc. (NYSE:ACEL) hit a new 52-week high during trading on Thursday . The company traded as high as $13.38 and last traded at $13.3450, with a volume of 44822 shares. The stock had previously closed at $13.16.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ACEL. Wall Street Zen lowered Accel Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Zacks Research lowered Accel Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. Citizens Jmp raised their price objective on Accel Entertainment from $13.00 to $14.00 and gave the stock a “market outperform” rating in a research report on Wednesday, March 4th. Weiss Ratings lowered Accel Entertainment from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Finally, Truist Financial raised their price objective on Accel Entertainment from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, March 4th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Accel Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $14.67.

Accel Entertainment Price Performance

The stock has a 50 day moving average price of $11.81 and a two-hundred day moving average price of $11.38. The company has a debt-to-equity ratio of 2.02, a quick ratio of 2.64 and a current ratio of 2.71. The company has a market capitalization of $1.09 billion, a PE ratio of 22.26 and a beta of 1.01.

Accel Entertainment (NYSE:ACEL) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Accel Entertainment had a return on equity of 25.70% and a net margin of 3.79%.The company had revenue of $351.56 million during the quarter, compared to the consensus estimate of $342.88 million. Equities analysts forecast that Accel Entertainment, Inc. will post 0.7 earnings per share for the current year.

Insider Buying and Selling at Accel Entertainment

In other Accel Entertainment news, insider Derek Harmer sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $11.39, for a total value of $227,800.00. Following the sale, the insider owned 179,963 shares of the company’s stock, valued at $2,049,778.57. This trade represents a 10.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gordon Rubenstein sold 12,931 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $11.55, for a total value of $149,353.05. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 79,277 shares of company stock valued at $902,717 in the last 90 days. 14.47% of the stock is currently owned by insiders.

Institutional Trading of Accel Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quantinno Capital Management LP grew its holdings in Accel Entertainment by 18.9% in the 1st quarter. Quantinno Capital Management LP now owns 123,906 shares of the company’s stock valued at $1,352,000 after buying an additional 19,734 shares during the last quarter. Lazard Asset Management LLC grew its holdings in Accel Entertainment by 17.1% in the 1st quarter. Lazard Asset Management LLC now owns 298,515 shares of the company’s stock valued at $3,257,000 after buying an additional 43,663 shares during the last quarter. Arrowstreet Capital Limited Partnership grew 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 valued at $11,814,000 after buying an additional 421,047 shares during the last quarter. Caxton Associates LLP acquired a new stake in Accel Entertainment in the 1st quarter valued at approximately $208,000. Finally, Orvieto Partners L.P. grew its holdings in Accel Entertainment by 74.8% in the 1st quarter. Orvieto Partners L.P. now owns 133,838 shares of the company’s stock valued at $1,460,000 after buying an additional 57,292 shares during the last quarter. Institutional investors and hedge funds own 55.39% of the company’s stock.

About Accel Entertainment

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.