Accel Entertainment, Inc. (NYSE:ACEL) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Accel Entertainment, Inc. (NYSE:ACEL) have received an average rating of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $14.6667.

Several brokerages recently commented on ACEL. Zacks Research cut Accel Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. Wall Street Zen cut shares of Accel Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings upgraded shares of Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 26th.

Accel Entertainment Trading Down 1.9%

NYSE ACEL opened at $11.90 on Friday. Accel Entertainment has a 52 week low of $9.55 and a 52 week high of $14.00. The company has a debt-to-equity ratio of 2.02, a quick ratio of 2.64 and a current ratio of 2.71. The stock’s 50 day moving average price is $12.41 and its two-hundred day moving average price is $11.77. The stock has a market capitalization of $968.95 million, a price-to-earnings ratio of 19.84 and a beta of 1.00.

Accel Entertainment (NYSE:ACEL) last announced its earnings results on Tuesday, May 5th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. Accel Entertainment had a net margin of 3.79% and a return on equity of 25.70%. The business had revenue of $351.56 million during the quarter, compared to analysts’ expectations of $342.88 million. As a group, analysts anticipate that Accel Entertainment will post 0.72 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Derek Harmer sold 20,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $13.00, for a total value of $260,000.00. Following the sale, the insider directly owned 187,827 shares of the company’s stock, valued at approximately $2,441,751. This represents a 9.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $13.00, for a total transaction of $325,000.00. Following the completion of the sale, the chief operating officer directly owned 241,464 shares in the company, valued at approximately $3,139,032. The trade was a 9.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 104,277 shares of company stock worth $1,259,917. Insiders own 14.47% of the company’s stock.

Hedge Funds Weigh In On Accel Entertainment

A number of institutional investors have recently bought and sold shares of ACEL. AQR Capital Management LLC raised its stake in Accel Entertainment by 13.1% in the 1st quarter. AQR Capital Management LLC now owns 160,415 shares of the company’s stock valued at $1,591,000 after acquiring an additional 18,643 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in Accel Entertainment during the first quarter worth $110,000. Millennium Management LLC increased its holdings in shares of Accel Entertainment by 252.5% in the first quarter. Millennium Management LLC now owns 502,521 shares of the company’s stock valued at $4,985,000 after purchasing an additional 359,948 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Accel Entertainment by 157.5% in the first quarter. Jane Street Group LLC now owns 37,108 shares of the company’s stock valued at $368,000 after purchasing an additional 22,695 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Accel Entertainment by 10.2% in the second quarter. Rhumbline Advisers now owns 81,054 shares of the company’s stock valued at $954,000 after purchasing an additional 7,501 shares during the period. Institutional investors and hedge funds own 55.39% of the company’s stock.

About Accel Entertainment

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.