Wall Street Zen upgraded shares of Accel Entertainment (NYSE:ACEL – Free Report) from a hold rating to a buy rating in a report released on Saturday,Wall Street Zen reports.
Several other equities research analysts have also recently commented on the company. Truist Financial set a $14.00 price target on Accel Entertainment in a report on Wednesday, August 19th. National Bank Financial set a $15.00 price target on Accel Entertainment in a report on Wednesday, August 5th. Weiss Ratings raised shares of Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Wells Fargo & Company initiated coverage on shares of Accel Entertainment in a research report on Friday, August 21st. They set an “equal weight” rating and a $14.00 price objective for the company. Finally, Citizens Jmp boosted their target price on shares of Accel Entertainment from $14.00 to $15.00 and gave the company a “market outperform” rating in a report on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Accel Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $14.80.
Read Our Latest Research Report on ACEL
Accel Entertainment Stock Performance
Accel Entertainment (NYSE:ACEL – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.04). The firm had revenue of $368.13 million during the quarter, compared to analyst estimates of $356.66 million. Accel Entertainment had a net margin of 4.08% and a return on equity of 22.30%. As a group, equities research analysts anticipate that Accel Entertainment will post 0.69 EPS for the current fiscal year.
Insider Buying and Selling
In other Accel Entertainment news, insider Derek Harmer sold 26,324 shares of the company’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $11.63, for a total value of $306,148.12. Following the transaction, the insider owned 170,929 shares of the company’s stock, valued at $1,987,904.27. This represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 ACEL. Globeflex Capital L P purchased a new position in shares of Accel Entertainment during the 2nd quarter worth approximately $3,894,000. Bank of New York Mellon Corp purchased a new stake in Accel Entertainment in the second quarter valued at approximately $2,643,000. Quantinno Capital Management LP lifted its stake in Accel Entertainment by 18.9% during the first quarter. Quantinno Capital Management LP now owns 123,906 shares of the company’s stock worth $1,352,000 after purchasing an additional 19,734 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of Accel Entertainment by 17.1% during the first quarter. Lazard Asset Management LLC now owns 298,515 shares of the company’s stock worth $3,257,000 after buying an additional 43,663 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Accel Entertainment by 63.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,082,891 shares of the company’s stock valued at $11,814,000 after buying an additional 421,047 shares in the last quarter. 55.39% of the stock is currently owned by institutional investors and hedge funds.
Accel Entertainment Company Profile
Accel Entertainment, Inc is a distributed gaming operator that provides regulated gaming services through a network of electronic gaming terminals placed in licensed third-party establishments. The company’s host locations include bars, restaurants, taverns, convenience stores, truck stops and other businesses that offer gaming as an additional customer amenity.
Accel typically manages the full gaming operation for its partners, including the installation, maintenance and servicing of gaming terminals, game content, regulatory compliance, cash management and player-support functions.
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