Turtle Beach (NASDAQ:TBCH) Rating Lowered to “Neutral” at B. Riley Financial

Turtle Beach (NASDAQ:TBCH) was downgraded by B. Riley Financial from a “buy” rating to a “neutral” rating in a research report issued on Friday, Benzinga reports. They presently have a $17.00 price objective on the stock. B. Riley Financial‘s target price would suggest a potential upside of 12.96% from the company’s previous close.

Other analysts also recently issued reports about the stock. Zacks Research upgraded shares of Turtle Beach from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 6th. Wall Street Zen raised shares of Turtle Beach from a “hold” rating to a “buy” rating in a report on Saturday, October 3rd. Weiss Ratings upgraded shares of Turtle Beach from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, October 19th. Finally, Roth Capital reiterated a “buy” rating and issued a $18.00 target price on shares of Turtle Beach in a research note on Thursday, October 15th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Turtle Beach currently has an average rating of “Hold” and an average price target of $15.80.

Turtle Beach Stock Down 9.6%

NASDAQ:TBCH traded down $1.60 during trading hours on Friday, reaching $15.05. 280,679 shares of the company traded hands, compared to its average volume of 334,771. The company has a current ratio of 2.38, a quick ratio of 1.30 and a debt-to-equity ratio of 0.95. The business’s 50-day moving average price is $13.93 and its two-hundred day moving average price is $12.63. Turtle Beach has a 1 year low of $9.84 and a 1 year high of $17.10. The stock has a market capitalization of $269.55 million, a P/E ratio of -71.52 and a beta of 2.36.

Turtle Beach (NASDAQ:TBCH) last released its earnings results on Thursday, November 5th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). Turtle Beach had a negative return on equity of 2.26% and a negative net margin of 1.07%. The company had revenue of $84.70 million during the quarter. Analysts predict that Turtle Beach will post 0.69 earnings per share for the current year.

Insider Activity at Turtle Beach

In other Turtle Beach news, major shareholder Dc Vga Llc sold 5,671 shares of Turtle Beach stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $13.00, for a total value of $73,723.00. Following the completion of the sale, the insider owned 1,775,441 shares of the company’s stock, valued at approximately $23,080,733. This trade represents a 0.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 business. WINTON GROUP Ltd bought a new stake in Turtle Beach in the 2nd quarter worth about $141,000. Hennessy Advisors Inc. purchased a new position in Turtle Beach in the 2nd quarter worth about $150,000. AXQ Capital LP purchased a new position in Turtle Beach in the 2nd quarter worth about $211,000. Globeflex Capital L P purchased a new position in Turtle Beach in the 2nd quarter worth about $596,000. Finally, Bank of New York Mellon Corp bought a new position in Turtle Beach during the 2nd quarter valued at about $741,000. 67.01% of the stock is owned by hedge funds and other institutional investors.

Key Turtle Beach News

Here are the key news stories impacting Turtle Beach this week:

• Positive Sentiment: Zacks added TBCH to its Rank #1 (Strong Buy) list. New Strong Buy Stocks for November 6th
• Positive Sentiment: The company reaffirmed its full-year guidance, while Zacks reported quarterly earnings of $0.26 per share—up from $0.08 a year earlier and in line with consensus. Third-quarter results and guidance
• Neutral Sentiment: Brokerages’ average price target was reported at $16.40, suggesting potential upside relative to the stock’s recent trading level, though targets are estimates and not guarantees. Brokerage price target report
• Negative Sentiment: Earnings coverage was inconsistent: MarketBeat reported EPS of $0.24, below the $0.26 consensus, and revenue of $84.7 million. The company also reported a negative net margin and negative return on equity, weighing on sentiment. Quarterly earnings report

Turtle Beach Company Profile

Turtle Beach Corporation (NASDAQ: TBCH) develops and markets gaming accessories and related consumer technology products. Its portfolio includes gaming headsets, controllers, keyboards, mice, microphones, and other accessories designed for use with consoles, PCs, and mobile devices. The company also offers products for flight simulation and other gaming applications.

The company’s products are sold under the Turtle Beach brand and, following its acquisition of Performance Designed Products, under brands including PDP.