Turtle Beach Corporation (NASDAQ:TBCH) Given Average Rating of “Hold” by Analysts

Turtle Beach Corporation (NASDAQ:TBCH) has received an average rating of “Hold” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $18.00.

Several brokerages have commented on TBCH. Roth Mkm decreased their price objective 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. Wedbush boosted their target price on shares of Turtle Beach from $13.50 to $14.00 and gave the company 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 report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Turtle Beach in a research note on Monday, December 29th.

Institutional Investors Weigh In On Turtle Beach

Several hedge funds have recently bought and sold shares of TBCH. BNP Paribas Financial Markets increased 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 valued at $48,000 after purchasing an additional 1,392 shares in the last quarter. AlphaQuest LLC grew its position in Turtle Beach by 44.9% during 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. Franklin Resources Inc. increased its holdings in Turtle Beach by 13.4% in the third quarter. Franklin Resources Inc. now owns 19,726 shares of the company’s stock valued at $314,000 after buying an additional 2,335 shares in the last quarter. Envestnet Asset Management Inc. raised 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 worth $215,000 after acquiring an additional 2,408 shares during the period. Finally, Signaturefd LLC acquired a new position in Turtle Beach in the 2nd quarter worth about $41,000. Hedge funds and other institutional investors own 67.01% of the company’s stock.

Turtle Beach Trading Down 1.8%

NASDAQ:TBCH opened at $12.08 on Wednesday. The company has a market capitalization of $233.26 million, a P/E ratio of 14.05, a PEG ratio of 0.66 and a beta of 2.23. 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 has a 12 month low of $8.78 and a 12 month high of $19.50. The firm has a fifty day simple moving average of $13.70 and a 200-day simple moving average of $14.68.

Turtle Beach (NASDAQ:TBCH) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.07). The firm 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%. On average, equities research analysts anticipate that Turtle Beach will post 1.17 earnings per share for the current year.

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.