Turtle Beach Corporation (NASDAQ:TBCH) Given Consensus Recommendation of “Moderate Buy” by Analysts

Turtle Beach Corporation (NASDAQ:TBCH) has earned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat 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 analysts that have covered the stock in the last year is $18.00.

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

Institutional Investors Weigh In On Turtle Beach

A number of hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its stake in Turtle Beach by 87.2% during the third 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 purchased a new stake in shares of Turtle Beach during the 2nd quarter worth approximately $52,000. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Turtle Beach during the 2nd quarter valued at approximately $55,000. CWM LLC purchased a new position in shares of Turtle Beach in the second quarter valued at $65,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Turtle Beach in the second quarter valued at $76,000. 67.01% of the stock is currently owned by hedge funds and other institutional investors.

Turtle Beach Trading Down 0.1%

Shares of Turtle Beach stock opened at $12.54 on Friday. Turtle Beach has a fifty-two week low of $8.78 and a fifty-two week high of $17.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.75 and a current ratio of 1.60. The company has a market capitalization of $242.15 million, a P/E ratio of 14.58, a P/E/G ratio of 0.67 and a beta of 2.23. The company has a fifty day moving average of $12.86 and a 200 day moving average of $14.35.

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.