Truist Financial Issues Pessimistic Forecast for Accel Entertainment (NYSE:ACEL) Stock Price

Accel Entertainment (NYSE:ACEL) had its price objective reduced by Truist Financial from $14.00 to $13.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price target would suggest a potential upside of 18.88% from the company’s current price.

Several other equities research analysts also recently issued reports on ACEL. Wall Street Zen downgraded shares of Accel Entertainment from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Citigroup reaffirmed a “market outperform” rating on shares of Accel Entertainment in a research report on Wednesday, August 5th. National Bank Financial set a $15.00 price objective on shares of Accel Entertainment in a research report on Wednesday, August 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Accel Entertainment in a research note on Tuesday, September 22nd. Finally, Citizens Jmp upped their target price on shares of Accel Entertainment from $14.00 to $15.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 5th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $14.60.

Accel Entertainment Stock Up 0.8%

ACEL stock traded up $0.09 during mid-day trading on Tuesday, hitting $10.94. 68,409 shares of the company were exchanged, compared to its average volume of 347,228. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.40 and a current ratio of 2.47. The firm has a market cap of $887.81 million, a P/E ratio of 16.37 and a beta of 1.07. The firm’s 50 day simple moving average is $11.48 and its 200 day simple moving average is $11.92. Accel Entertainment has a 1-year low of $9.55 and a 1-year high of $14.00.

Accel Entertainment (NYSE:ACEL) last announced its quarterly 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). The company had revenue of $368.13 million during the quarter, compared to the consensus estimate of $356.66 million. Accel Entertainment had a net margin of 4.08% and a return on equity of 22.30%. On average, sell-side analysts predict that Accel Entertainment will post 0.69 EPS for the current fiscal year.

Insider Activity

In related news, insider Derek Harmer sold 26,324 shares of Accel Entertainment stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $11.63, for a total value of $306,148.12. Following the sale, the insider owned 170,929 shares of the company’s stock, valued at approximately $1,987,904.27. This trade represents a 13.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 40,036 shares of company stock worth $465,180 in the last ninety days. 14.47% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Accel Entertainment

Institutional investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership grew its stake in shares of Accel Entertainment by 63.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,082,891 shares of the company’s stock worth $11,814,000 after acquiring an additional 421,047 shares in the last quarter. Globeflex Capital L P acquired a new stake in shares of Accel Entertainment in the second quarter valued at approximately $3,894,000. Bank of New York Mellon Corp acquired a new stake in shares of Accel Entertainment in the second quarter valued at approximately $2,643,000. Y Intercept Hong Kong Ltd raised its holdings in shares of Accel Entertainment by 249.3% in the first quarter. Y Intercept Hong Kong Ltd now owns 139,441 shares of the company’s stock valued at $1,521,000 after purchasing an additional 99,521 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Accel Entertainment by 43.0% in the first quarter. First Trust Advisors LP now owns 203,057 shares of the company’s stock valued at $2,215,000 after purchasing an additional 61,098 shares during the last quarter. Institutional investors own 55.39% of the company’s stock.

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.