Turtle Beach Corporation (NASDAQ:TBCH) Receives $18.00 Average Price Target from Brokerages

Turtle Beach Corporation (NASDAQ:TBCH) has been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $18.00.

TBCH has been the topic of a number of recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Turtle Beach in a research note on Monday, December 29th. Zacks Research raised shares of Turtle Beach from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 4th. Wedbush upped their price objective on shares of Turtle Beach from $13.50 to $14.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Finally, Roth Mkm reduced their target price 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.

Turtle Beach Price Performance

TBCH stock opened at $12.53 on Friday. Turtle Beach has a 1 year low of $8.78 and a 1 year high of $17.39. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.60 and a quick ratio of 0.75. The firm has a market capitalization of $241.95 million, a PE ratio of 14.57, a price-to-earnings-growth ratio of 0.67 and a beta of 2.22. The business has a 50 day simple moving average of $12.82 and a 200-day simple moving average of $14.29.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TBCH. CWM LLC acquired a new stake in Turtle Beach during the second quarter worth $65,000. AlphaQuest LLC purchased a new position in shares of Turtle Beach during the 2nd quarter worth $52,000. Envestnet Asset Management Inc. acquired a new stake in shares of Turtle Beach during the 2nd quarter worth about $154,000. Westside Investment Management Inc. purchased a new stake in Turtle Beach in the 2nd quarter valued at about $185,000. Finally, Los Angeles Capital Management LLC acquired a new position in Turtle Beach in the second quarter valued at about $453,000. 67.01% of the stock is currently owned by hedge funds and other institutional investors.

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.