Accel Entertainment (NYSE:ACEL) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Accel Entertainment (NYSE:ACEL) from a buy rating to a hold rating in a report published on Tuesday, Zacks.com reports.

According to Zacks, “Accel Entertainment Inc. is a distributed gaming operator primarily in the United States. The company’s business consists of the installation, maintenance and operation of VGTs, redemption devices which disburse winnings and contain ATM functionality, other amusement devices in authorized non-casino locations such as restaurants, bars, taverns, convenience stores, liquor stores, truck stops and grocery stores. Accel Entertainment Inc., formerly known as TPG Pace Holdings Corp., is based in Fort Worth, Texas. “

ACEL has been the subject of several other reports. Deutsche Bank Aktiengesellschaft raised Accel Entertainment from a hold rating to a buy rating and increased their price target for the stock from $14.00 to $17.00 in a report on Monday, November 8th. The Goldman Sachs Group downgraded Accel Entertainment from a buy rating to a neutral rating and reduced their target price for the company from $15.50 to $14.50 in a report on Sunday, December 5th. Macquarie raised Accel Entertainment from a neutral rating to an outperform rating and raised their target price for the company from $15.00 to $17.00 in a report on Friday, December 3rd. They noted that the move was a valuation call. Finally, TheStreet raised Accel Entertainment from a c rating to a b- rating in a report on Monday, November 22nd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Buy and an average price target of $16.08.

Shares of ACEL opened at $12.25 on Tuesday. The company has a current ratio of 3.03, a quick ratio of 3.03 and a debt-to-equity ratio of 1.89. The company’s 50 day simple moving average is $12.85 and its 200-day simple moving average is $12.14. Accel Entertainment has a 12-month low of $9.13 and a 12-month high of $14.10. The firm has a market cap of $1.15 billion, a PE ratio of 51.04 and a beta of 1.18.

Accel Entertainment (NYSE:ACEL) last issued its quarterly earnings results on Wednesday, November 3rd. The company reported $0.18 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Accel Entertainment had a return on equity of 33.87% and a net margin of 3.71%. The firm had revenue of $193.35 million during the quarter, compared to the consensus estimate of $184.11 million. During the same period last year, the company earned $0.18 earnings per share. As a group, equities research analysts forecast that Accel Entertainment will post 0.77 EPS for the current fiscal year.

In other Accel Entertainment news, CFO Brian M. Carroll sold 17,136 shares of Accel Entertainment stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $14.03, for a total value of $240,418.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karl Mr. Peterson sold 35,000 shares of the business’s stock in a transaction dated Wednesday, November 17th. The stock was sold at an average price of $12.43, for a total value of $435,050.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 190,234 shares of company stock valued at $2,490,535. 18.76% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the company. Royal Bank of Canada grew its holdings in shares of Accel Entertainment by 109.7% during the 2nd quarter. Royal Bank of Canada now owns 6,556 shares of the company’s stock worth $78,000 after purchasing an additional 3,430 shares during the period. Citigroup Inc. raised its position in shares of Accel Entertainment by 67.3% in the 2nd quarter. Citigroup Inc. now owns 7,816 shares of the company’s stock valued at $93,000 after purchasing an additional 3,144 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Accel Entertainment in the 3rd quarter valued at approximately $126,000. Amalgamated Bank acquired a new position in shares of Accel Entertainment in the 2nd quarter valued at approximately $126,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Accel Entertainment in the 3rd quarter valued at approximately $143,000. Institutional investors and hedge funds own 38.77% of the company’s stock.

About Accel Entertainment

Accel Entertainment, Inc engages in the installation and operation of video gaming terminals in licensed video gaming locations. It also operates stand-alone ATMs in gaming and non-gaming locations. The company was founded by Andrew Rubenstein and Gordon Rubenstein on December 8, 2010 and is headquartered in Burr Ridge, IL.

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