Accel Entertainment (NYSE:ACEL) Reaches New 52-Week High – Still a Buy?

Accel Entertainment, Inc. (NYSE:ACEL)’s stock price reached a new 52-week high during trading on Monday. The company traded as high as $14.00 and last traded at $13.84, with a volume of 80,865 shares traded. The stock had previously closed at $13.72.

Wall Street Analysts Forecast Growth

ACEL has been the topic of several research analyst reports. Wall Street Zen upgraded Accel Entertainment from a “buy” rating to a “strong-buy” rating in a report on Saturday. Truist Financial lowered their target price on Accel Entertainment from $14.00 to $13.00 and set a “hold” rating for the company in a report on Tuesday, October 20th. Citigroup reaffirmed a “market outperform” rating on shares of Accel Entertainment in a research report on Wednesday, August 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Accel Entertainment in a research report on Tuesday, September 22nd. Finally, Wells Fargo & Company assumed coverage on shares of Accel Entertainment in a research note on Friday, August 21st. They set an “equal weight” rating and a $14.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Accel Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.25.

Accel Entertainment Stock Performance

The company has a debt-to-equity ratio of 1.76, a quick ratio of 2.20 and a current ratio of 2.27. The company has a market capitalization of $1.11 billion, a PE ratio of 18.07 and a beta of 1.09. The stock’s 50-day simple moving average is $11.39 and its 200 day simple moving average is $11.74.

Accel Entertainment (NYSE:ACEL) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.07. Accel Entertainment had a return on equity of 22.62% and a net margin of 4.49%. The company had revenue of $363.56 million during the quarter, compared to the consensus estimate of $358.62 million. As a group, research analysts expect that Accel Entertainment, Inc. will post 0.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Accel Entertainment

In related news, CEO Mark Phelan sold 25,000 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $12.00, for a total value of $300,000.00. Following the completion of the sale, the chief executive officer directly owned 216,464 shares of the company’s stock, valued at $2,597,568. The trade was a 10.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Derek Harmer sold 13,162 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $11.60, for a total value of $152,679.20. Following the completion of the sale, the insider directly owned 157,767 shares of the company’s stock, valued at $1,830,097.20. The trade was a 7.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 65,036 shares of company stock worth $765,180 over the last quarter. 14.47% of the stock is owned by company insiders.

Institutional Trading of Accel Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership raised its stake in shares of Accel Entertainment by 63.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,082,891 shares of the company’s stock worth $11,814,000 after purchasing an additional 421,047 shares during the last quarter. Globeflex Capital L P purchased a new stake in shares of Accel Entertainment during the 2nd quarter worth $3,894,000. Bank of New York Mellon Corp acquired a new position in shares of Accel Entertainment during the 2nd quarter worth $2,643,000. First Trust Advisors LP grew its position in Accel Entertainment by 43.0% during the first quarter. First Trust Advisors LP now owns 203,057 shares of the company’s stock worth $2,215,000 after buying an additional 61,098 shares during the period. Finally, Lazard Asset Management LLC increased its holdings in Accel Entertainment by 17.1% in the first quarter. Lazard Asset Management LLC now owns 298,515 shares of the company’s stock valued at $3,257,000 after buying an additional 43,663 shares in the last quarter. 55.39% of the stock is owned by hedge funds and other institutional investors.

Accel Entertainment Company Profile

Accel Entertainment, Inc is a distributed gaming operator that provides regulated gaming services and equipment to non-casino businesses. The company places and operates gaming terminals in locations such as bars, restaurants, taverns, convenience stores, truck stops, and fraternal or veterans organizations, allowing these establishments to offer legal gaming without operating a traditional casino.

Accel manages the installation, maintenance, monitoring, and regulatory compliance of its gaming equipment.