Turtle Beach (NASDAQ:TBCH) Downgraded to “Strong Sell” Rating by Zacks Research

Turtle Beach (NASDAQ:TBCH) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

A number of other research firms have also recently issued reports on TBCH. B. Riley started coverage on Turtle Beach in a report on Thursday, October 2nd. They set a “buy” rating and a $21.00 price objective for the company. Wedbush lifted their target price on Turtle Beach from $13.50 to $14.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Turtle Beach in a research note on Monday, December 29th. Finally, Roth Capital reduced their price target on shares of Turtle Beach from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, November 24th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Turtle Beach currently has a consensus rating of “Hold” and an average target price of $18.00.

Turtle Beach Stock Performance

Shares of NASDAQ:TBCH opened at $13.21 on Tuesday. 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 has a 12 month low of $8.78 and a 12 month high of $19.50. The company has a market capitalization of $255.09 million, a price-to-earnings ratio of 15.36, a PEG ratio of 0.72 and a beta of 2.15. The firm’s 50-day moving average is $14.32 and its 200 day moving average is $14.77.

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

Hedge Funds Weigh In On Turtle Beach

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Signaturefd LLC purchased a new position in shares of Turtle Beach during the second quarter valued at $41,000. BNP Paribas Financial Markets grew its holdings in Turtle Beach by 87.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,988 shares of the company’s stock worth $48,000 after acquiring an additional 1,392 shares in the last quarter. AlphaQuest LLC purchased a new position in Turtle Beach during the 2nd quarter valued at about $52,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Turtle Beach in the 2nd quarter valued at about $55,000. Finally, CWM LLC bought a new stake in shares of Turtle Beach in the 2nd quarter valued at about $65,000. Institutional investors own 67.01% of the company’s stock.

About Turtle Beach

Turtle Beach Corporation (NASDAQ:TBCH) is a global developer, manufacturer and distributor of gaming audio peripherals, specializing in headsets, microphones and audio accessories for PC, console and mobile platforms. The company’s product lineup spans wired and wireless gaming headsets, mixing stations, sound cards and accessories designed to enhance the immersive experience for casual and professional gamers alike.

Founded in 1975 and headquartered in San Diego, California, Turtle Beach has built a longstanding reputation in audio innovation.