Analysts Set Turtle Beach Corporation (NASDAQ:TBCH) PT at $18.00

Shares of Turtle Beach Corporation (NASDAQ:TBCH) have received an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $18.00.

Several equities research analysts recently issued reports on TBCH shares. Wedbush lifted their price objective on shares of Turtle Beach from $13.50 to $14.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Turtle Beach in a research report on Monday, December 29th. Roth Mkm decreased their price target on Turtle Beach from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, November 24th. Finally, Zacks Research raised Turtle Beach from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 4th.

Hedge Funds Weigh In On Turtle Beach

A number of institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its holdings 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 buying an additional 1,392 shares during the period. AlphaQuest LLC lifted its position in 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 acquiring an additional 1,693 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Turtle Beach by 13.4% during the third quarter. Franklin Resources Inc. now owns 19,726 shares of the company’s stock valued at $314,000 after acquiring an additional 2,335 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Turtle Beach by 21.6% in the third quarter. Envestnet Asset Management Inc. now owns 13,536 shares of the company’s stock valued at $215,000 after purchasing an additional 2,408 shares during the last quarter. Finally, Signaturefd LLC acquired a new stake in shares of Turtle Beach in the second quarter valued at about $41,000. Institutional investors own 67.01% of the company’s stock.

Turtle Beach Trading Up 2.2%

NASDAQ:TBCH opened at $12.07 on Wednesday. The company has a market capitalization of $233.08 million, a P/E ratio of 14.03, a P/E/G ratio of 0.64 and a beta of 2.23. The stock’s 50 day moving average price is $13.60 and its 200 day moving average price is $14.64. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.75 and a current ratio of 1.60. Turtle Beach has a 52 week low of $8.78 and a 52 week high of $19.50.

Turtle Beach (NASDAQ:TBCH) last posted its 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 business had revenue of $80.46 million during the quarter. Turtle Beach had a return on equity of 16.44% and a net margin of 5.26%. On average, research analysts forecast that Turtle Beach will post 1.17 EPS 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.