Accel Entertainment, Inc. (NYSE:ACEL) Stock Rated “Moderate Buy” by Wall Street Brokerages

Accel Entertainment, Inc. (NYSE:ACEL) has earned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $14.80.

Several research firms have recently commented on ACEL. Citigroup reaffirmed a “market outperform” rating on shares of Accel Entertainment in a research report on Wednesday, August 5th. Wells Fargo & Company initiated coverage on Accel Entertainment in a research note on Friday, August 21st. They set an “equal weight” rating and a $14.00 target price for the company. Citizens Jmp lifted their target price 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. Truist Financial set a $14.00 price target on Accel Entertainment in a research note on Wednesday, August 19th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Accel Entertainment in a report on Tuesday, September 22nd.

Insider Buying and Selling

In other Accel Entertainment news, insider Derek Harmer sold 26,324 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $11.63, for a total transaction of $306,148.12. Following the completion of the transaction, the insider owned 170,929 shares of the company’s stock, valued at $1,987,904.27. This trade represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 40,036 shares of company stock valued at $465,180 over the last 90 days. Corporate insiders own 14.47% of the company’s stock.

Hedge Funds Weigh In On Accel Entertainment

Several large investors have recently made changes to their positions in the stock. Versant Capital Management Inc lifted its stake in Accel Entertainment by 61.5% during the third quarter. Versant Capital Management Inc now owns 6,676 shares of the company’s stock worth $71,000 after purchasing an additional 2,542 shares in the last quarter. Globeflex Capital L P acquired a new stake in shares of Accel Entertainment in the second quarter valued at $3,894,000. Bank of New York Mellon Corp acquired a new stake in shares of Accel Entertainment in the second quarter valued at $2,643,000. Quantinno Capital Management LP raised its holdings in shares of 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 period. Finally, Lazard Asset Management LLC raised its holdings in shares of 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 period. 55.39% of the stock is currently owned by institutional investors and hedge funds.

Accel Entertainment Stock Up 0.4%

NYSE ACEL opened at $10.88 on Thursday. The business’s fifty day simple moving average is $11.71 and its 200-day simple moving average is $11.92. The company has a quick ratio of 2.40, a current ratio of 2.47 and a debt-to-equity ratio of 1.91. The firm has a market cap of $883.75 million, a PE ratio of 16.25 and a beta of 1.07. Accel Entertainment has a 52 week low of $9.55 and a 52 week high of $14.00.

Accel Entertainment (NYSE:ACEL) last released its quarterly earnings data 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 return on equity of 22.30% and a net margin of 4.08%.The firm had revenue of $368.13 million for the quarter, compared to analyst estimates of $356.66 million. As a group, equities analysts anticipate that Accel Entertainment will post 0.69 earnings per share for the current year.

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.