B. Riley Financial Lowers Turtle Beach (NASDAQ:TBCH) Price Target to $20.00

Turtle Beach (NASDAQ:TBCH) had its price target lowered by investment analysts at B. Riley Financial from $21.00 to $20.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley Financial’s price objective points to a potential upside of 53.49% from the company’s previous close.

Several other brokerages also recently weighed in on TBCH. Roth Mkm lowered their target price 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Turtle Beach in a report on Monday, December 29th. Wedbush reissued a “neutral” rating and issued a $14.00 price objective on shares of Turtle Beach in a research report on Monday. Finally, Zacks Research upgraded Turtle Beach from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 4th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Turtle Beach presently has an average rating of “Moderate Buy” and an average price target of $17.80.

Turtle Beach Stock Down 2.3%

Shares of Turtle Beach stock traded down $0.30 on Tuesday, reaching $13.03. The stock had a trading volume of 44,870 shares, compared to its average volume of 234,183. The company has a quick ratio of 0.75, a current ratio of 1.60 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $251.61 million, a P/E ratio of 15.15, a P/E/G ratio of 0.69 and a beta of 2.22. The company has a 50 day moving average price of $12.74 and a 200 day moving average price of $14.22. Turtle Beach has a 1 year low of $8.78 and a 1 year high of $17.39.

Institutional Investors Weigh In On Turtle Beach

Several large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its holdings in Turtle Beach by 87.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,988 shares of the company’s stock worth $48,000 after buying an additional 1,392 shares in the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Turtle Beach during the second quarter worth $55,000. AlphaQuest LLC raised its stake in shares of Turtle Beach by 44.9% in the third quarter. AlphaQuest LLC now owns 5,461 shares of the company’s stock valued at $87,000 after acquiring an additional 1,693 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Turtle Beach in the second quarter valued at $76,000. Finally, Virtus Advisers LLC purchased a new position in Turtle Beach in the second quarter valued at $79,000. 67.01% of the stock is owned by hedge funds and other institutional investors.

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.