Accel Entertainment (NYSE:ACEL) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Accel Entertainment (NYSE:ACEL) from a buy rating to a hold rating in a research note published on Saturday.

Several other analysts have also weighed in on the company. Wells Fargo & Company started coverage on Accel Entertainment in a research note on Friday. They issued an “equal weight” rating and a $14.00 price objective on the stock. Zacks Research downgraded Accel Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Citizens Jmp increased their target price on shares of Accel Entertainment from $14.00 to $15.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 5th. Weiss Ratings upgraded shares of Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 26th. Finally, National Bank Financial set a $15.00 price target on shares of Accel Entertainment in a report on Wednesday, August 5th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.80.

Accel Entertainment Stock Down 0.2%

Shares of ACEL opened at $12.07 on Friday. The firm has a 50 day simple moving average of $12.45 and a two-hundred day simple moving average of $11.88. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.47 and a quick ratio of 2.40. Accel Entertainment has a one year low of $9.55 and a one year high of $14.00. The company has a market cap of $979.96 million, a P/E ratio of 18.02 and a beta of 1.02.

Accel Entertainment (NYSE:ACEL) last issued its earnings results on Tuesday, August 4th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates 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.

Insiders Place Their Bets

In related news, insider Derek Harmer sold 20,000 shares of the firm’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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Mark T. Phelan sold 25,000 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $13.00, for a total value of $325,000.00. Following the sale, the chief operating officer owned 241,464 shares in the company, valued at $3,139,032. This represents a 9.38% decrease in their position. 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 currently owned by corporate insiders.

Hedge Funds Weigh In On Accel Entertainment

Several large investors have recently bought and sold shares of ACEL. Arrowstreet Capital Limited Partnership grew its holdings in shares of Accel Entertainment by 63.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,082,891 shares of the company’s stock worth $11,814,000 after purchasing an additional 421,047 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Accel Entertainment in the third quarter valued at approximately $4,368,000. Millennium Management LLC raised its holdings 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 buying an additional 359,948 shares during the last quarter. Goldman Sachs Group Inc. raised 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 during the last quarter. Finally, Globeflex Capital L P bought a new position in Accel Entertainment in the 2nd quarter valued at approximately $3,894,000. 55.39% of the stock is currently owned by institutional investors.

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.