Brokerages Set Turtle Beach Corporation (NASDAQ:TBCH) Target Price at $17.00

Shares of Turtle Beach Corporation (NASDAQ:TBCH) have earned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $17.00.

A number of research analysts recently commented on TBCH shares. Weiss Ratings reissued a “hold (c)” rating on shares of Turtle Beach in a report on Friday, March 27th. Wedbush reduced their price target on Turtle Beach from $14.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, March 16th. B. Riley Financial reduced their price target on Turtle Beach from $21.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, March 10th. Oppenheimer reissued an “outperform” rating and issued a $18.00 price target (down from $20.00) on shares of Turtle Beach in a report on Friday, March 13th. Finally, Zacks Research raised Turtle Beach from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 4th.

Insider Buying and Selling

In other Turtle Beach news, Director Katherine Lee Scherping sold 19,902 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $11.62, for a total transaction of $231,261.24. Following the transaction, the director owned 14,465 shares of the company’s stock, valued at $168,083.30. This trade represents a 57.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TBCH. Windward Management LP bought a new position in Turtle Beach during the 4th quarter worth approximately $24,073,000. Bank of America Corp DE bought a new position in Turtle Beach during the 2nd quarter worth approximately $6,930,000. Goldman Sachs Group Inc. lifted its holdings in Turtle Beach by 328.0% during 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 last quarter. Geode Capital Management LLC bought a new position in Turtle Beach during the 2nd quarter worth approximately $5,438,000. Finally, Franklin Resources Inc. lifted its holdings in Turtle Beach by 1,338.6% during the 4th quarter. Franklin Resources Inc. now owns 283,780 shares of the company’s stock worth $3,981,000 after buying an additional 264,054 shares during the last quarter. Institutional investors own 67.01% of the company’s stock.

Turtle Beach Trading Down 0.6%

Shares of TBCH opened at $11.51 on Monday. The company has a market capitalization of $225.60 million, a P/E ratio of 14.76, a P/E/G ratio of 0.81 and a beta of 2.30. Turtle Beach has a one year low of $8.78 and a one year high of $17.39. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 1.98. The stock has a 50-day moving average price of $11.62 and a 200 day moving average price of $13.30.

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.