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

Shares of Turtle Beach Corporation (NASDAQ:TBCH) have been assigned an average rating of “Hold” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $18.00.

A number of equities analysts have issued reports on the stock. Roth Capital decreased 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. Wedbush boosted their price target on Turtle Beach from $13.50 to $14.00 and gave the company a “neutral” rating in a report on Friday, November 7th. B. Riley assumed coverage on Turtle Beach in a report on Thursday, October 2nd. They issued a “buy” rating and a $21.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Turtle Beach in a research report on Monday, December 29th. Finally, Zacks Research downgraded Turtle Beach from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th.

Turtle Beach Price Performance

Shares of Turtle Beach stock opened at $13.69 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.60 and a quick ratio of 0.75. Turtle Beach has a one year low of $8.78 and a one year high of $19.50. The business’s 50 day simple moving average is $14.00 and its two-hundred day simple moving average is $14.75. The stock has a market capitalization of $264.35 million, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 0.75 and a beta of 2.15.

Turtle Beach (NASDAQ:TBCH) last issued its earnings results on Thursday, November 6th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.07). Turtle Beach had a return on equity of 16.44% and a net margin of 5.26%.The firm had revenue of $80.46 million during the quarter. Analysts forecast that Turtle Beach will post 1.17 EPS for the current year.

Institutional Investors Weigh In On Turtle Beach

A number of large investors have recently modified their holdings of TBCH. JPMorgan Chase & Co. raised its stake in Turtle Beach by 290.0% in the third quarter. JPMorgan Chase & Co. now owns 27,789 shares of the company’s stock worth $442,000 after buying an additional 20,664 shares in the last quarter. Virtus Advisers LLC grew its holdings in shares of Turtle Beach by 124.6% during the 3rd quarter. Virtus Advisers LLC now owns 12,799 shares of the company’s stock worth $204,000 after acquiring an additional 7,100 shares during the period. Prentice Capital Management LP raised its position in shares of Turtle Beach by 27.1% in the 3rd quarter. Prentice Capital Management LP now owns 112,836 shares of the company’s stock worth $1,794,000 after acquiring an additional 24,051 shares in the last quarter. Nishkama Capital LLC purchased a new position in shares of Turtle Beach in the 3rd quarter valued at approximately $3,066,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Turtle Beach by 10.2% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,007 shares of the company’s stock valued at $716,000 after purchasing an additional 4,179 shares in 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.