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

Turtle Beach Corporation (NASDAQ:TBCH) has been given a consensus recommendation of “Hold” by the seven brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $16.80.

A number of analysts have recently commented on the company. Craig Hallum restated a “buy” rating and set a $15.00 price objective 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 research report on Monday, May 11th.

Insider Buying and Selling at Turtle Beach

In other news, Director Katherine Lee Scherping sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $13.25, for a total transaction of $26,500.00. Following the completion of the sale, the director owned 22,254 shares of the company’s stock, valued at approximately $294,865.50. This trade represents a 8.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Turtle Beach

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its stake in Turtle Beach by 87.2% in the third quarter. BNP Paribas Financial Markets now owns 2,988 shares of the company’s stock worth $48,000 after purchasing an additional 1,392 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Turtle Beach during the second quarter valued at approximately $76,000. New York State Common Retirement Fund bought a new position in Turtle Beach during the 2nd quarter worth approximately $81,000. JPMorgan Chase & Co. bought a new position in Turtle Beach during the 2nd quarter worth approximately $99,000. Finally, State of Wyoming acquired a new position in Turtle Beach in the second quarter worth $120,000. Institutional investors and hedge funds own 67.01% of the company’s stock.

Turtle Beach Stock Down 0.1%

Shares of NASDAQ TBCH opened at $12.25 on Wednesday. Turtle Beach has a 1 year low of $9.84 and a 1 year high of $17.39. The firm’s 50 day moving average price is $12.74 and its 200 day moving average price is $12.17. The firm has a market cap of $243.16 million, a P/E ratio of 408.33 and a beta of 2.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 2.46.

Turtle Beach (NASDAQ:TBCH) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.78) earnings per share 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 return on equity of 1.31% and a net margin of 0.40%. As a group, sell-side analysts anticipate that Turtle Beach will post 0.87 earnings per share for the current 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.