Accel Entertainment (NYSE:ACEL) Rating Increased to Strong-Buy at Zacks Research

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

Other equities research analysts have also issued reports about the company. Weiss Ratings upgraded Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, April 9th. Wall Street Zen upgraded Accel Entertainment from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 4th. Citizens Jmp increased their price objective on Accel Entertainment from $13.00 to $14.00 and gave the stock a “market outperform” rating in a research report on Wednesday, March 4th. Finally, Truist Financial increased their price objective on Accel Entertainment from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Accel Entertainment currently has a consensus rating of “Buy” and an average price target of $14.75.

Accel Entertainment Price Performance

ACEL stock opened at $11.83 on Monday. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.61 and a quick ratio of 2.55. The business has a 50 day simple moving average of $11.30 and a 200-day simple moving average of $10.97. The firm has a market capitalization of $964.65 million, a PE ratio of 19.71 and a beta of 1.05. Accel Entertainment has a 1 year low of $9.55 and a 1 year high of $13.31.

Accel Entertainment (NYSE:ACEL) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. The business had revenue of $341.45 million during the quarter, compared to analyst estimates of $335.66 million. Accel Entertainment had a return on equity of 27.49% and a net margin of 3.87%. Equities research 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 David W. Ruttenberg sold 25,000 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $11.04, for a total value of $276,000.00. Following the completion of the transaction, the director directly owned 198,135 shares in the company, valued at approximately $2,187,410.40. This represents a 11.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gordon Rubenstein sold 228,262 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $11.37, for a total value of $2,595,338.94. Following the transaction, the director owned 313,903 shares in the company, valued at $3,569,077.11. This trade represents a 42.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 864,247 shares of company stock worth $9,865,047. Company insiders own 14.47% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ACEL. State of Alaska Department of Revenue acquired a new position in Accel Entertainment during the third quarter worth $49,000. Osaic Holdings Inc. lifted its stake in Accel Entertainment by 456.2% during the second quarter. Osaic Holdings Inc. now owns 5,618 shares of the company’s stock worth $66,000 after purchasing an additional 4,608 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Accel Entertainment by 195.9% during the second 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 in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Accel Entertainment during the first quarter worth $110,000. Finally, EntryPoint Capital LLC acquired a new position in Accel Entertainment during the fourth quarter worth $118,000. 55.39% of the stock is currently owned by institutional investors and hedge funds.

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.