Accel Entertainment (NYSE:ACEL) Price Target Raised to $15.00

Accel Entertainment (NYSE:ACEL) had its target price boosted by Citizens Jmp from $14.00 to $15.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a market outperform rating on the stock.

ACEL has been the subject of a number of other research reports. Zacks Research lowered Accel Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. National Bank Financial set a $15.00 price objective on shares of Accel Entertainment in a research note on Wednesday. Wall Street Zen cut shares of Accel Entertainment from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Citigroup reissued a “market outperform” rating on shares of Accel Entertainment in a research report on Wednesday. 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. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $15.00.

Accel Entertainment Stock Down 0.9%

ACEL opened at $12.19 on Wednesday. The stock has a market cap of $991.74 million, a P/E ratio of 18.19 and a beta of 1.02. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.47 and a quick ratio of 2.64. Accel Entertainment has a 12 month low of $9.55 and a 12 month high of $14.00. The stock’s 50 day moving average price is $12.51 and its 200 day moving average price is $11.82.

Accel Entertainment (NYSE:ACEL) last released its earnings results on Tuesday, August 4th. The company reported $0.15 earnings per share 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, research analysts predict that Accel Entertainment will post 0.7 earnings per share for the current year.

Insider Transactions at Accel Entertainment

In related news, Director Bruce D. Wardinski purchased 50,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average cost of $11.55 per share, for a total transaction of $577,500.00. Following the completion of the acquisition, the director owned 50,000 shares in the company, valued at $577,500. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Derek Harmer sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $13.00, for a total transaction of $260,000.00. Following the transaction, the insider directly owned 187,827 shares in the company, valued at $2,441,751. The trade was a 9.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 14.47% of the stock is owned by insiders.

Hedge Funds Weigh In On Accel Entertainment

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp acquired a new position in shares of Accel Entertainment in the second quarter worth $2,643,000. Quantinno Capital Management LP boosted its position in Accel Entertainment by 18.9% during the first quarter. Quantinno Capital Management LP now owns 123,906 shares of the company’s stock valued at $1,352,000 after purchasing an additional 19,734 shares during the last quarter. Lazard Asset Management LLC boosted its position in Accel Entertainment by 17.1% during the first quarter. Lazard Asset Management LLC now owns 298,515 shares of the company’s stock valued at $3,257,000 after purchasing an additional 43,663 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Accel Entertainment by 63.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,082,891 shares of the company’s stock valued at $11,814,000 after purchasing an additional 421,047 shares in the last quarter. Finally, Caxton Associates LLP bought a new stake in shares of Accel Entertainment in the 1st quarter valued at approximately $208,000. 55.39% of the stock is currently owned by hedge funds and other institutional investors.

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.