Accel Entertainment (NYSE:ACEL) Upgraded to “Hold” at Truist Financial

Accel Entertainment (NYSE:ACEL) was upgraded by analysts at Truist Financial to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the company. Citigroup reaffirmed a “market outperform” rating on shares of Accel Entertainment in a report on Wednesday, August 5th. Wall Street Zen cut Accel Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Citizens Jmp boosted their price target on Accel Entertainment from $14.00 to $15.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 5th. Weiss Ratings raised shares of Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Finally, National Bank Financial set a $15.00 price objective on shares of Accel Entertainment in a research note on Wednesday, August 5th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.80.

Accel Entertainment Stock Up 0.8%

ACEL stock opened at $12.09 on Tuesday. Accel Entertainment has a fifty-two week low of $9.55 and a fifty-two week high of $14.00. 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 stock has a market capitalization of $981.62 million, a price-to-earnings ratio of 18.05 and a beta of 1.02. The business’s fifty day moving average price is $12.47 and its two-hundred day moving average price is $11.88.

Accel Entertainment (NYSE:ACEL) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). Accel Entertainment had a return on equity of 22.30% and a net margin of 4.08%.The business had revenue of $368.13 million for the quarter, compared to the consensus estimate of $356.66 million. On average, equities analysts anticipate that Accel Entertainment will post 0.7 earnings per share for the current year.

Insider Activity at Accel Entertainment

In other news, COO Mark T. Phelan sold 25,000 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $13.00, for a total transaction of $325,000.00. Following the completion of the transaction, the chief operating officer directly owned 241,464 shares in the company, valued at approximately $3,139,032. This represents a 9.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Derek Harmer sold 20,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $13.00, for a total transaction of $260,000.00. Following the transaction, the insider owned 187,827 shares of the company’s stock, valued at $2,441,751. This trade represents a 9.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 14.47% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Accel Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in shares of Accel Entertainment by 13.1% during the first quarter. AQR Capital Management LLC now owns 160,415 shares of the company’s stock valued at $1,591,000 after purchasing an additional 18,643 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Accel Entertainment in the first quarter valued at approximately $110,000. Millennium Management LLC increased its stake in shares of Accel Entertainment by 252.5% in the first quarter. Millennium Management LLC now owns 502,521 shares of the company’s stock valued at $4,985,000 after buying an additional 359,948 shares during the period. Jane Street Group LLC raised its holdings in Accel Entertainment by 157.5% in the 1st quarter. Jane Street Group LLC now owns 37,108 shares of the company’s stock valued at $368,000 after buying an additional 22,695 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in Accel Entertainment by 10.2% in the 2nd quarter. Rhumbline Advisers now owns 81,054 shares of the company’s stock valued at $954,000 after buying an additional 7,501 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.