Accel Entertainment (NYSE:ACEL) Rating Lowered to Hold at Wall Street Zen

Accel Entertainment (NYSE:ACEL) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other analysts also recently issued research reports about the stock. Citigroup reaffirmed a “market outperform” rating on shares of Accel Entertainment in a report on Wednesday, August 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Accel Entertainment in a research report on Tuesday, September 22nd. Citizens Jmp lifted their price objective on shares of Accel Entertainment from $14.00 to $15.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 5th. Truist Financial set a $14.00 price objective on shares of Accel Entertainment in a research note on Wednesday, August 19th. Finally, Wells Fargo & Company began 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. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Accel Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.80.

Accel Entertainment Stock Down 0.0%

ACEL stock opened at $10.99 on Friday. Accel Entertainment has a 52 week low of $9.55 and a 52 week high of $14.00. The business has a 50-day simple moving average of $11.62 and a 200 day simple moving average of $11.92. The company has a quick ratio of 2.40, a current ratio of 2.47 and a debt-to-equity ratio of 1.91. The company has a market cap of $892.68 million, a PE ratio of 16.41 and a beta of 1.07.

Accel Entertainment (NYSE:ACEL) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $356.66 million. Sell-side analysts anticipate that Accel Entertainment will post 0.69 EPS for the current fiscal year.

Insider Buying and Selling at Accel Entertainment

In related news, insider Derek Harmer sold 13,162 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $11.60, for a total value of $152,679.20. Following the sale, the insider directly owned 157,767 shares of the company’s stock, valued at $1,830,097.20. This trade represents a 7.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders sold 40,036 shares of company stock worth $465,180. 14.47% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ACEL. Arrowstreet Capital Limited Partnership lifted its stake in shares of Accel Entertainment by 63.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,082,891 shares of the company’s stock valued at $11,814,000 after acquiring an additional 421,047 shares during the last quarter. Globeflex Capital L P acquired a new stake in shares of Accel Entertainment during the 2nd quarter valued at $3,894,000. Bank of New York Mellon Corp acquired a new stake in shares of Accel Entertainment during the 2nd quarter valued at $2,643,000. Y Intercept Hong Kong Ltd grew its position in Accel Entertainment by 249.3% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 139,441 shares of the company’s stock worth $1,521,000 after acquiring an additional 99,521 shares during the last quarter. Finally, First Trust Advisors LP grew its position in Accel Entertainment by 43.0% during the 1st quarter. First Trust Advisors LP now owns 203,057 shares of the company’s stock worth $2,215,000 after acquiring an additional 61,098 shares during the last quarter. Institutional investors own 55.39% of the company’s stock.

Accel Entertainment Company Profile

Accel Entertainment, Inc is a distributed gaming operator that provides gaming and amusement services to licensed, non-casino establishments across the United States. The company installs, operates, and maintains gaming terminals and related equipment in locations such as bars, restaurants, taverns, convenience stores, and other hospitality businesses, generally sharing gaming revenue with its establishment partners.

In addition to gaming terminals, Accel offers products and services that may include amusement devices, redemption equipment, ATMs, and other supporting technology.