Turtle Beach (NASDAQ:TBCH) Stock Rating Upgraded by Wall Street Zen

Turtle Beach (NASDAQ:TBCH) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Monday, Wall Street Zen reports.

Several other research analysts have also recently issued reports on TBCH. Craig Hallum restated a “buy” rating and issued a $15.00 target price on shares of Turtle Beach in a report on Friday, May 8th. Weiss Ratings reissued a “sell (d)” rating on shares of Turtle Beach in a research report on Friday, August 7th. Finally, Zacks Research downgraded shares of Turtle Beach from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Turtle Beach has an average rating of “Hold” and an average price target of $16.80.

Turtle Beach Stock Down 5.9%

Shares of NASDAQ:TBCH opened at $12.05 on Monday. The stock’s 50-day moving average price is $12.65 and its 200-day moving average price is $12.17. Turtle Beach has a 12-month low of $9.84 and a 12-month high of $17.39. The stock has a market capitalization of $215.82 million, a P/E ratio of -57.38 and a beta of 2.31. The company has a current ratio of 2.38, a quick ratio of 1.30 and a debt-to-equity ratio of 0.95.

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

Insider Buying and Selling

In related news, major shareholder Dc Vga Llc sold 5,671 shares of the firm’s 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 $23,080,733. This trade represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. purchased a new stake in shares of Turtle Beach in the 2nd quarter worth about $154,000. Geode Capital Management LLC purchased a new position in Turtle Beach during the 2nd quarter valued at about $5,438,000. JPMorgan Chase & Co. purchased a new position in Turtle Beach during the 2nd quarter valued at about $99,000. Franklin Resources Inc. bought a new stake in Turtle Beach during the second quarter worth about $241,000. Finally, Rhumbline Advisers purchased a new stake in Turtle Beach in the second quarter worth about $568,000. 67.01% of the stock is currently owned by institutional investors.

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.