Turtle Beach Corporation (NASDAQ:TBCH) Receives Average Rating of “Hold” from Analysts

Shares of Turtle Beach Corporation (NASDAQ:TBCH) have been given an average recommendation of “Hold” by the seven brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $18.00.

A number of research firms have recently weighed in on TBCH. Zacks Research cut Turtle Beach from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Turtle Beach in a research note on Monday, December 29th. Wedbush raised their price target on shares of Turtle Beach from $13.50 to $14.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. Roth Capital lowered their price target on shares of Turtle Beach from $22.00 to $20.00 and set a “buy” rating for the company in a report on Monday, November 24th. Finally, B. Riley started coverage on shares of Turtle Beach in a research note on Thursday, October 2nd. They set a “buy” rating and a $21.00 price objective on the stock.

Turtle Beach Stock Up 1.6%

Shares of NASDAQ TBCH opened at $13.68 on Friday. The firm’s 50-day moving average is $14.03 and its two-hundred day moving average is $14.75. The company has a market capitalization of $264.16 million, a PE ratio of 15.91, a price-to-earnings-growth ratio of 0.72 and a beta of 2.15. Turtle Beach has a 12-month low of $8.78 and a 12-month high of $19.50. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.60 and a quick ratio of 0.75.

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

Institutional Investors Weigh In On Turtle Beach

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

Turtle Beach Company Profile

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.