Accel Entertainment (NYSE:ACEL) Raised to “Strong-Buy” at Zacks Research

Accel Entertainment (NYSE:ACEL) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

A number of other research firms have also recently issued reports on ACEL. Citizens Jmp upped their price objective on shares of Accel Entertainment from $13.00 to $14.00 and gave the stock a “market outperform” rating in a research report on Wednesday, March 4th. Truist Financial boosted their target price on shares of Accel Entertainment from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, March 4th. Weiss Ratings upgraded Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, April 9th. Finally, Wall Street Zen upgraded Accel Entertainment from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 4th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $14.75.

Accel Entertainment Stock Performance

NYSE:ACEL traded up $0.15 during mid-day trading on Monday, reaching $11.97. 8,526 shares of the company’s stock were exchanged, compared to its average volume of 384,661. Accel Entertainment has a one year low of $9.55 and a one year high of $13.31. The firm has a market capitalization of $976.31 million, a PE ratio of 19.93 and a beta of 1.05. The business’s fifty day simple moving average is $11.30 and its two-hundred day simple moving average is $10.97. The company has a debt-to-equity ratio of 2.11, a quick ratio of 2.55 and a current ratio of 2.61.

Accel Entertainment (NYSE:ACEL) last released its quarterly earnings results on Tuesday, March 3rd. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The business had revenue of $341.45 million for the quarter, compared to analyst estimates of $335.66 million. Accel Entertainment had a net margin of 3.87% and a return on equity of 27.49%. Analysts anticipate that Accel Entertainment will post 0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Gordon Rubenstein sold 172,943 shares of Accel Entertainment stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $11.37, for a total transaction of $1,966,361.91. Following the sale, the director directly owned 22,674 shares in the company, valued at $257,803.38. This trade represents a 88.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David W. Ruttenberg sold 10,000 shares of Accel Entertainment stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $11.53, for a total transaction of $115,300.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 864,247 shares of company stock worth $9,865,047 in the last ninety days. Company insiders own 14.47% of the company’s stock.

Institutional Investors Weigh In On Accel Entertainment

Hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue acquired a new stake in Accel Entertainment during the 3rd quarter worth approximately $49,000. Osaic Holdings Inc. raised its holdings in Accel Entertainment by 456.2% during the 2nd quarter. Osaic Holdings Inc. now owns 5,618 shares of the company’s stock worth $66,000 after purchasing an additional 4,608 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Accel Entertainment by 195.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,099 shares of the company’s stock worth $84,000 after purchasing an additional 4,700 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Accel Entertainment during the 1st quarter worth approximately $110,000. Finally, EntryPoint Capital LLC bought a new position in Accel Entertainment during the 4th quarter worth approximately $118,000. 55.39% of the stock is currently owned by institutional investors and hedge funds.

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.