In a notable surge, shares of Accelerate Diagnostics Inc (NASDAQ:AXDX). (ACEL), a $1.02 billion market cap company, reached a 52-week high, touching $12.62 as investors rallied behind the company's promising outlook. According to InvestingPro analysis, the stock appears slightly undervalued at current levels, trading at a P/E ratio of 23.7x. The climb represents a significant milestone for ACEL, reflecting a robust 22.62% increase over the past year. This uptick is supported by solid fundamentals, including a 5.13% revenue growth and profitable operations over the last twelve months. InvestingPro subscribers have access to 8 additional key insights about ACEL, including detailed valuation metrics and growth forecasts. The 52-week high serves as a key indicator for investors tracking the stock's momentum and considering its future trajectory in an ever-evolving market landscape.
In other recent news, Accel Entertainment (NYSE:ACEL) has made significant strides in its business operations. The company has finalized the acquisition of an 85% stake in two Louisiana-based gaming entities, Toucan Gaming, LLC and LSM Gaming, LLC, in a $40 million transaction. This move is expected to generate an estimated $25 million in revenue and $6 million in adjusted EBITDA by 2025. The acquisition adds 13 truck stop locations with 450 gaming terminals and 60 locations with three machines each to Accel's portfolio.
Accel Entertainment has also reported a steady increase in its third-quarter results for 2024, with a revenue of $302 million and an adjusted EBITDA of $46 million, reflecting a year-over-year growth of 5.1% and 3.9% respectively. This growth has been attributed to strategic moves in Illinois, its largest market, and expansion into new markets including Nebraska. The company is actively repurchasing shares under a $200 million program and is focusing on organic growth in Illinois, Nebraska, and Georgia.
Recent developments also include the upcoming acquisition of Fairmont Park, which includes a sports betting license and plans for a casino. Accel is also exploring M&A opportunities in the $15 billion local gaming market. These developments underline Accel Entertainment's commitment to growth and shareholder returns.
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