Wall Street Zen Downgrades Accel Entertainment (NYSE:ACEL) to Hold

Accel Entertainment (NYSE:ACEL) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Several other research analysts have also commented on the company. Citigroup reiterated a “market outperform” rating on shares of Accel Entertainment in a report on Wednesday, August 5th. Citizens Jmp increased their price objective on Accel Entertainment from $14.00 to $15.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 26th. Zacks Research cut Accel Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. Finally, Truist Financial set a $14.00 target price on shares of Accel Entertainment in a research report on Wednesday. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Accel Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $14.80.

Accel Entertainment Stock Performance

NYSE ACEL opened at $12.07 on Friday. The company has a market cap of $979.96 million, a PE ratio of 18.02 and a beta of 1.02. The stock’s 50 day simple moving average is $12.45 and its 200-day simple moving average is $11.89. Accel Entertainment has a 1-year low of $9.55 and a 1-year high of $14.00. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.47 and a quick ratio of 2.40.

Accel Entertainment (NYSE:ACEL) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $356.66 million. As a group, equities research analysts anticipate that Accel Entertainment will post 0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other Accel Entertainment news, insider Derek Harmer sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $13.00, for a total transaction of $260,000.00. Following the transaction, the insider owned 187,827 shares in the company, valued at approximately $2,441,751. The trade was a 9.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Mark T. Phelan sold 25,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $13.00, for a total value of $325,000.00. Following the completion of the transaction, the chief operating officer owned 241,464 shares of the company’s stock, valued at $3,139,032. The trade was a 9.38% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 14.47% of the company’s stock.

Institutional Investors Weigh In On Accel Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of ACEL. Osaic Holdings Inc. raised its stake in shares of Accel Entertainment by 456.2% during the 2nd quarter. Osaic Holdings Inc. now owns 5,618 shares of the company’s stock worth $66,000 after buying an additional 4,608 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Accel Entertainment by 195.9% during the second quarter. Tower Research Capital LLC TRC now owns 7,099 shares of the company’s stock valued at $84,000 after buying an additional 4,700 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Accel Entertainment in the first quarter valued at $110,000. EntryPoint Capital LLC purchased a new stake in Accel Entertainment in the 4th quarter valued at about $118,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Accel Entertainment during the fourth quarter worth approximately $131,000. 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.