Turtle Beach Corporation (NASDAQ:TBCH) Receives $18.00 Average PT from Analysts

Turtle Beach Corporation (NASDAQ:TBCH) has received an average rating of “Moderate Buy” from the six analysts that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $18.00.

Several equities research analysts have recently weighed in on the company. B. Riley initiated coverage on Turtle Beach in a research report on Thursday, October 2nd. They set a “buy” rating and a $21.00 target price on the stock. Wedbush raised their price objective on shares of Turtle Beach from $13.50 to $14.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Roth Capital reduced their price objective on shares of Turtle Beach from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, November 24th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Turtle Beach in a research report on Monday.

Turtle Beach Price Performance

Turtle Beach stock opened at $14.14 on Tuesday. The stock has a market cap of $273.04 million, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 0.87 and a beta of 2.17. The company has a fifty day simple moving average of $14.92 and a 200-day simple moving average of $14.67. Turtle Beach has a 12-month low of $8.78 and a 12-month high of $19.50. The company has a current ratio of 1.60, a quick ratio of 0.75 and a debt-to-equity ratio of 0.44.

Turtle Beach (NASDAQ:TBCH) last posted its earnings results on Thursday, November 6th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.07). The business had revenue of $80.46 million during the quarter. Turtle Beach had a net margin of 5.26% and a return on equity of 16.44%. Equities analysts expect that Turtle Beach will post 1.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Turtle Beach

Several hedge funds have recently made changes to their positions in TBCH. Virtus Advisers LLC increased its position in shares of Turtle Beach by 124.6% during the third quarter. Virtus Advisers LLC now owns 12,799 shares of the company’s stock worth $204,000 after purchasing an additional 7,100 shares in the last quarter. Prentice Capital Management LP grew its stake in Turtle Beach by 27.1% during the 3rd quarter. Prentice Capital Management LP now owns 112,836 shares of the company’s stock worth $1,794,000 after buying an additional 24,051 shares during the last quarter. Nishkama Capital LLC acquired a new position in Turtle Beach during the third quarter worth approximately $3,066,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Turtle Beach by 10.2% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,007 shares of the company’s stock worth $716,000 after buying an additional 4,179 shares during the period. Finally, Manatuck Hill Partners LLC lifted its stake in Turtle Beach by 16.7% in the third quarter. Manatuck Hill Partners LLC now owns 210,000 shares of the company’s stock valued at $3,339,000 after buying an additional 30,000 shares during the last quarter. Hedge funds and other institutional investors own 67.01% of the company’s stock.

Turtle Beach Company Profile

Turtle Beach Corporation operates as an audio technology company. It develops, commercializes, and markets gaming headset solutions for various platforms, including video game and entertainment consoles, personal computers, handheld consoles, tablets, and mobile devices under the Turtle Beach brand. The company also offers gaming headsets, keyboards, mice, mousepads, and other accessories for the personal computer peripherals market under the brand of ROCCAT, as well as digital USB and analog microphones under the Neat Microphones brand.