Turtle Beach Corporation (NASDAQ:TBCH) Receives $16.80 Average Price Target from Analysts

Shares of Turtle Beach Corporation (NASDAQ:TBCH) have earned an average rating of “Hold” from the seven analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $16.80.

TBCH has been the subject of several analyst reports. Craig Hallum reiterated a “buy” rating and set a $15.00 price target on shares of Turtle Beach in a report on Friday, May 8th. Weiss Ratings cut shares of Turtle Beach from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Zacks Research upgraded shares of Turtle Beach from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 4th. B. Riley Financial lowered their price target 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, Wedbush lowered their price target on shares of Turtle Beach from $14.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, March 16th.

Insider Activity

In other news, Director Katherine Lee Scherping sold 19,902 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $168,083.30. This represents a 57.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its holdings in shares of Turtle Beach by 87.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,988 shares of the company’s stock valued at $48,000 after buying an additional 1,392 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Turtle Beach in the 2nd quarter valued at $76,000. New York State Common Retirement Fund acquired a new position in shares of Turtle Beach in the 2nd quarter valued at $81,000. AlphaQuest LLC boosted its holdings in shares of Turtle Beach by 44.9% in the 3rd quarter. AlphaQuest LLC now owns 5,461 shares of the company’s stock valued at $87,000 after buying an additional 1,693 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in shares of Turtle Beach in the 2nd quarter valued at $99,000. Institutional investors and hedge funds own 67.01% of the company’s stock.

Turtle Beach Trading Down 3.9%

NASDAQ TBCH opened at $10.48 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. Turtle Beach has a 52 week low of $9.84 and a 52 week high of $17.39. The stock has a market capitalization of $208.03 million, a PE ratio of 349.33, a price-to-earnings-growth ratio of 0.96 and a beta of 2.26. The firm has a 50 day moving average of $11.39 and a two-hundred day moving average of $12.77.

Turtle Beach (NASDAQ:TBCH) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.35). Turtle Beach had a return on equity of 1.31% and a net margin of 0.40%.The firm had revenue of $42.17 million for the quarter. As a group, research analysts expect that Turtle Beach will post 0.71 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.