Accel Entertainment (NASDAQ:ACEL) Lowered to “Hold” at Zacks Investment Research

Accel Entertainment (NASDAQ:ACEL) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Accel Entertainment Inc. is a distributed gaming operator primarily in the United States. The company’s business consists of the installation, maintenance and operation of VGTs, redemption devices which disburse winnings and contain ATM functionality, other amusement devices in authorized non-casino locations such as restaurants, bars, taverns, convenience stores, liquor stores, truck stops and grocery stores. Accel Entertainment Inc., formerly known as TPG Pace Holdings Corp., is based in Fort Worth, Texas. “

Several other research firms have also weighed in on ACEL. Deutsche Bank initiated coverage on Accel Entertainment in a report on Monday, June 8th. They set a “hold” rating and a $11.00 target price on the stock. Northland Securities initiated coverage on Accel Entertainment in a report on Friday. They set a “buy” rating and a $12.00 target price on the stock.

ACEL traded up $0.46 during trading on Tuesday, reaching $9.54. 16,395 shares of the stock traded hands, compared to its average volume of 318,048. Accel Entertainment has a fifty-two week low of $5.22 and a fifty-two week high of $13.35. The stock’s 50-day simple moving average is $9.49 and its two-hundred day simple moving average is $10.38.

Accel Entertainment (NASDAQ:ACEL) last released its quarterly earnings data on Monday, May 11th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.14. The firm had revenue of $105.23 million for the quarter, compared to analyst estimates of $97.80 million.

A number of hedge funds and other institutional investors have recently bought and sold shares of ACEL. Advisory Research Inc. acquired a new stake in Accel Entertainment during the first quarter valued at approximately $11,043,000. Wildcat Capital Management LLC acquired a new position in shares of Accel Entertainment in the 1st quarter worth approximately $4,403,000. Natixis Advisors L.P. acquired a new position in shares of Accel Entertainment in the 1st quarter worth approximately $3,703,000. Comerica Bank acquired a new position in shares of Accel Entertainment in the 1st quarter worth approximately $3,025,000. Finally, TPG Group Holdings SBS Advisors Inc. boosted its holdings in shares of Accel Entertainment by 7.0% in the 1st quarter. TPG Group Holdings SBS Advisors Inc. now owns 4,003,632 shares of the company’s stock worth $30,027,000 after acquiring an additional 262,701 shares in the last quarter.

Accel Entertainment Company Profile

Accel Entertainment Gaming, LLC owns and operates video gaming stores. It installs gaming terminals in the United States. The company was founded in 2009 and is based in Lemont, Illinois.

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