Accel Entertainment (NYSE:ACEL) Upgraded at Zacks Research

Zacks Research upgraded shares of Accel Entertainment (NYSE:ACEL) from a hold rating to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

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

Accel Entertainment Stock Up 0.7%

Shares of Accel Entertainment stock opened at $11.91 on Monday. 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 has a 52-week low of $9.55 and a 52-week high of $13.31. The stock has a market capitalization of $971.09 million, a price-to-earnings ratio of 19.84 and a beta of 1.05. The company’s 50 day moving average price is $11.32 and its 200-day moving average price is $10.97.

Accel Entertainment (NYSE:ACEL) last issued its earnings results on Tuesday, March 3rd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.04. Accel Entertainment had a net margin of 3.87% and a return on equity of 27.49%. The firm had revenue of $341.45 million for the quarter, compared to analysts’ expectations of $335.66 million. Equities research analysts forecast that Accel Entertainment will post 0.69 EPS for the current year.

Insider Buying and Selling

In other Accel Entertainment news, insider Derek Harmer sold 20,000 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $11.39, for a total transaction of $227,800.00. Following the completion of the transaction, the insider owned 179,963 shares of the company’s stock, valued at approximately $2,049,778.57. This trade represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David W. Ruttenberg sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $11.53, for a total value of $115,300.00. The SEC filing for this sale provides additional information. Insiders sold 864,247 shares of company stock valued at $9,865,047 over the last quarter. 14.47% of the stock is owned by company insiders.

Hedge Funds Weigh In On Accel Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACEL. AQR Capital Management LLC lifted its position in 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 buying an additional 18,643 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Accel Entertainment during the first quarter valued at $110,000. Millennium Management LLC lifted its position in Accel Entertainment by 252.5% during 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 lifted its position in Accel Entertainment by 157.5% during the first 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 period. Finally, Rhumbline Advisers lifted its position in Accel Entertainment by 10.2% during the second 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 period. Hedge funds and other institutional investors own 55.39% of the company’s stock.

Accel Entertainment Company Profile

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.