Wedbush Lowers Turtle Beach (NASDAQ:TBCH) Price Target to $11.00

Turtle Beach (NASDAQ:TBCH) had its price objective dropped by Wedbush from $14.00 to $11.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Wedbush’s price objective indicates a potential downside of 17.11% from the stock’s current price.

Several other analysts have also issued reports on TBCH. Zacks Research raised shares of Turtle Beach from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 4th. Oppenheimer reissued an “outperform” rating and issued a $18.00 price objective (down from $20.00) on shares of Turtle Beach in a research report on Friday. B. Riley Financial dropped their target price on shares of Turtle Beach from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Roth Mkm cut their target price on shares of 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, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Turtle Beach in a research report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Turtle Beach Trading Down 0.7%

Shares of Turtle Beach stock opened at $13.27 on Monday. The stock has a market cap of $260.09 million, a P/E ratio of 17.01, a P/E/G ratio of 0.72 and a beta of 2.22. The company has a quick ratio of 1.19, a current ratio of 1.98 and a debt-to-equity ratio of 0.36. Turtle Beach has a 12-month low of $8.78 and a 12-month high of $17.39. The business’s 50 day moving average is $12.69 and its 200-day moving average is $14.15.

Institutional Trading of Turtle Beach

Institutional investors have recently modified their holdings of the business. Deutsche Bank AG raised its position in 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 grew its position in shares of Turtle Beach by 87.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,988 shares of the company’s stock valued at $48,000 after buying an additional 1,392 shares during the last quarter. AlphaQuest LLC increased its stake in shares of Turtle Beach by 44.9% in the third quarter. AlphaQuest LLC now owns 5,461 shares of the company’s stock valued at $87,000 after buying an additional 1,693 shares during the period. State of Wisconsin Investment Board raised its position in shares of Turtle Beach by 9.4% during the fourth quarter. State of Wisconsin Investment Board now owns 24,908 shares of the company’s stock worth $349,000 after acquiring an additional 2,132 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Turtle Beach by 13.4% in the third quarter. Franklin Resources Inc. now owns 19,726 shares of the company’s stock worth $314,000 after acquiring an additional 2,335 shares during the period. 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.