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

Shares of Turtle Beach Corporation (NASDAQ:TBCH) have earned a consensus rating of “Hold” from the seven research firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $16.80.

A number of equities analysts have recently commented on TBCH shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Turtle Beach in a report on Friday, August 7th. Craig Hallum restated a “buy” rating and set a $15.00 target price on shares of Turtle Beach in a report on Friday, May 8th. Zacks Research lowered shares of Turtle Beach from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Finally, Wall Street Zen lowered Turtle Beach from a “buy” rating to a “hold” rating in a research report on Sunday, August 23rd.

Turtle Beach Price Performance

NASDAQ:TBCH opened at $12.98 on Friday. The company has a fifty day moving average price of $12.70 and a 200 day moving average price of $12.16. The stock has a market cap of $232.47 million, a P/E ratio of -61.81 and a beta of 2.29. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.38 and a quick ratio of 1.30. Turtle Beach has a one year low of $9.84 and a one year high of $17.39.

Turtle Beach (NASDAQ:TBCH) last released its earnings results on Thursday, August 6th. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.08). Turtle Beach had a negative return on equity of 2.26% and a negative net margin of 1.07%.The firm had revenue of $56.37 million for the quarter. Analysts anticipate that Turtle Beach will post 0.68 earnings per share for the current year.

Insiders Place Their Bets

In other Turtle Beach news, major shareholder Dc Vga Llc sold 140,000 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $12.70, for a total value of $1,778,000.00. Following the transaction, the insider owned 1,921,112 shares of the company’s stock, valued at approximately $24,398,122.40. This represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Turtle Beach

Hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System raised its stake in Turtle Beach by 200.4% during the 2nd quarter. California State Teachers Retirement System now owns 2,565 shares of the company’s stock worth $32,000 after buying an additional 1,711 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of 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 acquiring an additional 1,392 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Turtle Beach in the second quarter worth about $76,000. New York State Common Retirement Fund acquired a new stake in shares of Turtle Beach during the second quarter worth about $81,000. Finally, JPMorgan Chase & Co. acquired a new stake in Turtle Beach during the 2nd quarter worth approximately $99,000. 67.01% of the stock is currently owned by institutional investors and hedge funds.

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.