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

Turtle Beach Corporation (NASDAQ:TBCH) has been assigned an average recommendation of “Hold” from 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 brokerages that have issued a report on the stock in the last year is $18.00.

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

Turtle Beach Stock Up 2.6%

Turtle Beach stock opened at $13.63 on Friday. The stock has a 50 day moving average of $14.13 and a two-hundred day moving average of $14.76. Turtle Beach has a twelve month low of $8.78 and a twelve month high of $19.50. The stock has a market capitalization of $263.20 million, a price-to-earnings ratio of 15.85, a PEG ratio of 0.71 and a beta of 2.15. 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 (NASDAQ:TBCH) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.07). The company had revenue of $80.46 million for the quarter. Turtle Beach had a return on equity of 16.44% and a net margin of 5.26%. As a group, research analysts expect that Turtle Beach will post 1.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TBCH. BNP Paribas Financial Markets raised its position in Turtle Beach by 87.2% during the third 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 during the last quarter. Signaturefd LLC purchased a new position in shares of Turtle Beach during the 2nd quarter worth approximately $41,000. AlphaQuest LLC purchased a new position in shares of Turtle Beach during the 2nd quarter worth approximately $52,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Turtle Beach in the second quarter worth $55,000. Finally, CWM LLC purchased a new stake in shares of Turtle Beach in the second quarter valued at $65,000. Hedge funds and other 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.