Turtle Beach Corporation (NASDAQ:TBCH) Given Average Recommendation of “Hold” by Brokerages

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

TBCH has been the subject of several recent analyst reports. Craig Hallum reaffirmed a “buy” rating and issued a $15.00 target price on shares of Turtle Beach in a report on Friday, May 8th. Weiss Ratings cut Turtle Beach from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th.

Turtle Beach Price Performance

NASDAQ TBCH opened at $12.25 on Wednesday. The stock has a market capitalization of $243.16 million, a PE ratio of 408.33 and a beta of 2.29. Turtle Beach has a 1 year low of $9.84 and a 1 year high of $17.39. The business’s 50-day moving average is $12.74 and its 200 day moving average is $12.16. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.46 and a quick ratio of 1.12.

Turtle Beach (NASDAQ:TBCH) last announced its earnings results on Thursday, May 7th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.35). The company had revenue of $42.17 million for the quarter. Turtle Beach had a net margin of 0.40% and a return on equity of 1.31%. Sell-side analysts forecast that Turtle Beach will post 0.87 earnings per share for the current year.

Insider Transactions at Turtle Beach

In related news, Director Katherine Lee Scherping sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $13.25, for a total transaction of $26,500.00. Following the completion of the sale, the director directly owned 22,254 shares in the company, valued at approximately $294,865.50. The trade was a 8.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Turtle Beach

A number of hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets grew its holdings in Turtle Beach by 87.2% during the third quarter. BNP Paribas Financial Markets now owns 2,988 shares of the company’s stock valued at $48,000 after purchasing an additional 1,392 shares during the period. Lazard Asset Management LLC purchased a new position in Turtle Beach during the second quarter valued at $76,000. New York State Common Retirement Fund purchased a new stake in shares of Turtle Beach in the second quarter worth about $81,000. JPMorgan Chase & Co. purchased a new stake in shares of Turtle Beach during the 2nd quarter worth approximately $99,000. Finally, State of Wyoming bought a new position in Turtle Beach during the second quarter valued at $120,000. 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.