Turtle Beach Corporation (NASDAQ:TBCH) Receives $16.80 Consensus Target Price from Brokerages

Shares of Turtle Beach Corporation (NASDAQ:TBCH) have been given a consensus recommendation of “Hold” by the seven research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $16.80.

A number of research firms have issued reports on TBCH. Oppenheimer reaffirmed an “outperform” rating and set a $18.00 price objective (down from $20.00) on shares of Turtle Beach in a report on Friday, March 13th. Wedbush reduced their target price on shares of Turtle Beach from $14.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. Weiss Ratings cut shares of Turtle Beach from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Finally, Craig Hallum reiterated a “buy” rating and issued a $15.00 price objective on shares of Turtle Beach in a research note on Friday, May 8th.

Insider Activity

In other Turtle Beach news, Director Katherine Lee Scherping sold 2,000 shares of the business’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $13.25, for a total value of $26,500.00. Following the sale, the director directly owned 22,254 shares in the company, valued at $294,865.50. The trade was a 8.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Turtle Beach

Large investors have recently added to or reduced their stakes in the company. Windward Management LP bought a new position in Turtle Beach during the fourth quarter worth about $24,073,000. Bank of America Corp DE bought a new position in Turtle Beach in the 2nd quarter worth approximately $6,930,000. Goldman Sachs Group Inc. boosted its holdings in Turtle Beach by 328.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 596,508 shares of the company’s stock worth $8,369,000 after buying an additional 457,125 shares during the period. Geode Capital Management LLC purchased a new position in Turtle Beach in the 2nd quarter valued at approximately $5,438,000. Finally, Franklin Resources Inc. grew its stake in Turtle Beach by 1,338.6% in the 4th quarter. Franklin Resources Inc. now owns 283,780 shares of the company’s stock valued at $3,981,000 after buying an additional 264,054 shares in the last quarter. Hedge funds and other institutional investors own 67.01% of the company’s stock.

Turtle Beach Price Performance

Shares of NASDAQ:TBCH opened at $12.55 on Friday. 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’s 50 day moving average is $12.35 and its 200-day moving average is $12.30. Turtle Beach has a twelve month low of $9.84 and a twelve month high of $17.39. The firm has a market capitalization of $249.12 million, a price-to-earnings ratio of 418.33 and a beta of 2.28.

Turtle Beach (NASDAQ:TBCH) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.35). The business had revenue of $42.17 million for the quarter. Turtle Beach had a net margin of 0.40% and a return on equity of 1.31%. Sell-side analysts forecast that Turtle Beach will post 0.87 EPS for the current fiscal 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.