Deutsche Bank Aktiengesellschaft Increases Accel Entertainment (NYSE:ACEL) Price Target to $16.00

Accel Entertainment (NYSE:ACEL) had its price target raised by Deutsche Bank Aktiengesellschaft from $13.00 to $16.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 62.60% from the stock’s current price.

Accel Entertainment Stock Down 15.2 %

Shares of Accel Entertainment stock traded down $1.77 on Thursday, reaching $9.84. 694,381 shares of the company were exchanged, compared to its average volume of 260,914. Accel Entertainment has a one year low of $8.93 and a one year high of $12.05. The company has a current ratio of 2.85, a quick ratio of 2.78 and a debt-to-equity ratio of 2.59. The company has a 50-day moving average of $11.45 and a 200 day moving average of $10.65. The company has a market capitalization of $824.59 million, a price-to-earnings ratio of 18.68 and a beta of 1.42.

Accel Entertainment (NYSE:ACEL) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.08. Accel Entertainment had a return on equity of 39.62% and a net margin of 3.90%. The business had revenue of $297.07 million during the quarter, compared to analysts’ expectations of $286.32 million. On average, equities research analysts forecast that Accel Entertainment will post 0.75 earnings per share for the current year.

Insiders Place Their Bets

In other Accel Entertainment news, Director David W. Ruttenberg sold 20,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $10.28, for a total transaction of $205,600.00. Following the completion of the transaction, the director now owns 466,545 shares of the company’s stock, valued at $4,796,082.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director David W. Ruttenberg sold 20,000 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $10.28, for a total value of $205,600.00. Following the sale, the director now directly owns 466,545 shares of the company’s stock, valued at approximately $4,796,082.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Karl Mr. Peterson sold 30,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $11.00, for a total transaction of $330,000.00. Following the completion of the sale, the director now owns 2,505,645 shares of the company’s stock, valued at $27,562,095. The disclosure for this sale can be found here. Insiders have sold a total of 135,999 shares of company stock worth $1,520,439 in the last quarter. Corporate insiders own 17.90% of the company’s stock.

Hedge Funds Weigh In On Accel Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Invesco Ltd. raised its stake in Accel Entertainment by 974.6% in the third quarter. Invesco Ltd. now owns 974,356 shares of the company’s stock valued at $10,669,000 after purchasing an additional 883,688 shares in the last quarter. Mill Road Capital Management LLC increased its position in Accel Entertainment by 282.9% during the 4th quarter. Mill Road Capital Management LLC now owns 300,482 shares of the company’s stock valued at $3,086,000 after purchasing an additional 222,005 shares during the period. Vanguard Group Inc. lifted its holdings in Accel Entertainment by 7.3% in the third quarter. Vanguard Group Inc. now owns 3,101,745 shares of the company’s stock worth $33,964,000 after buying an additional 210,862 shares during the period. Campbell & CO Investment Adviser LLC grew its stake in Accel Entertainment by 291.2% in the third quarter. Campbell & CO Investment Adviser LLC now owns 118,644 shares of the company’s stock worth $1,299,000 after purchasing an additional 88,314 shares during the period. Finally, Panagora Asset Management Inc. lifted its position in Accel Entertainment by 594.9% during the 3rd quarter. Panagora Asset Management Inc. now owns 71,130 shares of the company’s stock valued at $779,000 after acquiring an additional 60,894 shares during the period. Hedge funds and other institutional investors own 55.39% of the company’s stock.

Accel Entertainment Company Profile

Accel Entertainment, Inc, together with its subsidiaries, operates as a distributed gaming operator in the United States. It is involved in the installation, maintenance, and operation of gaming terminals; redemption devices that disburse winnings and contain automated teller machine (ATM) functionality; and other amusement devices in authorized non-casino locations, such as restaurants, bars, taverns, convenience stores, liquor stores, truck stops, and grocery stores.