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

Shares of Turtle Beach Corporation (NASDAQ:TBCH) have been assigned a consensus rating of “Hold” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $16.80.

A number of equities research analysts have recently issued reports on TBCH shares. Zacks Research upgraded shares of Turtle Beach from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 4th. Wedbush reduced their price target on shares of Turtle Beach from $14.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. Craig Hallum reaffirmed a “buy” rating and set a $15.00 price target on shares of Turtle Beach in a research note on Friday, May 8th. Oppenheimer reaffirmed an “outperform” rating and set a $18.00 price target (down from $20.00) on shares of Turtle Beach in a research note on Friday, March 13th. Finally, Weiss Ratings downgraded Turtle Beach from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday.

Insider Activity

In other news, Director Katherine Lee Scherping sold 19,902 shares of Turtle Beach stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $11.62, for a total transaction of $231,261.24. Following the completion of the transaction, the director owned 14,465 shares of the company’s stock, valued at $168,083.30. The trade was a 57.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 3.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Deutsche Bank AG raised its position in shares of Turtle Beach by 8.4% during the 4th quarter. Deutsche Bank AG now owns 11,592 shares of the company’s stock worth $163,000 after purchasing an additional 898 shares during the last quarter. BNP Paribas Financial Markets raised its position 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 worth $48,000 after purchasing an additional 1,392 shares during the last quarter. AlphaQuest LLC raised its position in shares of Turtle Beach by 44.9% during the 3rd quarter. AlphaQuest LLC now owns 5,461 shares of the company’s stock worth $87,000 after purchasing an additional 1,693 shares during the last quarter. State of Wisconsin Investment Board raised its position in shares of Turtle Beach by 9.4% during the 4th quarter. State of Wisconsin Investment Board now owns 24,908 shares of the company’s stock worth $349,000 after purchasing an additional 2,132 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Turtle Beach by 13.4% during the 3rd quarter. Franklin Resources Inc. now owns 19,726 shares of the company’s stock worth $314,000 after purchasing an additional 2,335 shares during the last quarter. 67.01% of the stock is currently owned by institutional investors and hedge funds.

Turtle Beach Price Performance

Turtle Beach stock opened at $11.37 on Friday. The business has a fifty day moving average of $11.52 and a two-hundred day moving average of $12.90. Turtle Beach has a one year low of $9.84 and a one year high of $17.39. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 2.46. The company has a market cap of $225.66 million, a P/E ratio of 379.00, a price-to-earnings-growth ratio of 0.97 and a beta of 2.26.

Turtle Beach (NASDAQ:TBCH) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.35). Turtle Beach had a net margin of 0.40% and a return on equity of 1.31%. The company had revenue of $42.17 million for the quarter. As a group, analysts predict that Turtle Beach will post 0.71 earnings per share for the current fiscal year.

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.