Turtle Beach Corporation (NASDAQ:TBCH) Receives Consensus Rating of “Hold” from Analysts

Shares of Turtle Beach Corporation (NASDAQ:TBCH) have been assigned a consensus rating of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. One research 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 analysts that have updated their coverage on the stock in the last year is $16.80.

Several equities analysts have recently issued reports on the company. Wedbush decreased their price target on Turtle Beach from $14.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th. Weiss Ratings lowered Turtle Beach from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Oppenheimer reissued an “outperform” rating and issued a $18.00 target price (down from $20.00) on shares of Turtle Beach in a report on Friday, March 13th. B. Riley Financial dropped their target price on shares of Turtle Beach from $21.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, March 10th. Finally, Craig Hallum reissued a “buy” rating and issued a $15.00 target price on shares of Turtle Beach in a report on Friday, May 8th.

Turtle Beach Trading Up 3.7%

TBCH opened at $12.97 on Tuesday. Turtle Beach has a twelve month low of $9.84 and a twelve month high of $17.39. The company has a 50-day simple moving average of $11.45 and a 200 day simple moving average of $12.49. The company has a quick ratio of 1.12, a current ratio of 2.46 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $257.45 million, a price-to-earnings ratio of 432.33, a P/E/G ratio of 1.11 and a beta of 2.28.

Turtle Beach (NASDAQ:TBCH) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.35). Turtle Beach had a net margin of 0.40% and a return on equity of 1.31%. The business had revenue of $42.17 million during the quarter. Analysts predict that Turtle Beach will post 0.71 EPS for the current fiscal year.

Insider Activity at Turtle Beach

In other news, Director Katherine Lee Scherping sold 19,902 shares of the stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $11.62, for a total value of $231,261.24. Following the completion of the transaction, the director owned 14,465 shares of the company’s stock, valued at approximately $168,083.30. This represents a 57.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 28,845 shares of company stock valued at $348,558 over the last three months. 3.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TBCH. Windward Management LP bought a new position in shares of Turtle Beach in the fourth quarter worth about $24,073,000. Bank of America Corp DE bought a new position in shares of Turtle Beach in the second quarter worth about $6,930,000. Goldman Sachs Group Inc. lifted its holdings in shares of Turtle Beach by 328.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 596,508 shares of the company’s stock worth $8,369,000 after acquiring an additional 457,125 shares during the last quarter. Geode Capital Management LLC bought a new position in shares of Turtle Beach in the second quarter worth about $5,438,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Turtle Beach by 1,338.6% in the fourth quarter. Franklin Resources Inc. now owns 283,780 shares of the company’s stock worth $3,981,000 after acquiring an additional 264,054 shares during the last quarter. Institutional investors own 67.01% of the company’s stock.

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.