Turtle Beach Corporation (NASDAQ:TBCH) Receives Average Rating of “Hold” from Brokerages

Shares of Turtle Beach Corporation (NASDAQ:TBCH) have been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $16.80.

Several analysts have issued reports on the stock. Craig Hallum reaffirmed a “buy” rating and issued 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 research note on Monday, May 11th. Oppenheimer restated an “outperform” rating and set a $18.00 price objective (down from $20.00) on shares of Turtle Beach in a research report on Friday, March 13th. B. Riley Financial reduced their target price on Turtle Beach from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. Finally, Wedbush reduced their target price on Turtle Beach from $14.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th.

Insider Buying and Selling at Turtle Beach

In other news, Director Katherine Lee Scherping sold 6,845 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $13.10, for a total value of $89,669.50. Following the completion of the transaction, the director directly owned 24,254 shares of the company’s stock, valued at $317,727.40. The trade was a 22.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.30% of the stock is currently owned by company insiders.

Institutional Trading of Turtle Beach

A number of large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its stake in shares of Turtle Beach by 87.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,988 shares of the company’s stock valued at $48,000 after acquiring an additional 1,392 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Turtle Beach in the second quarter worth approximately $76,000. New York State Common Retirement Fund purchased a new stake in Turtle Beach in the second quarter valued at approximately $81,000. JPMorgan Chase & Co. purchased a new stake in Turtle Beach in the second quarter valued at approximately $99,000. Finally, State of Wyoming acquired a new position in Turtle Beach during the second quarter worth approximately $120,000. Institutional investors and hedge funds own 67.01% of the company’s stock.

Turtle Beach Stock Performance

Shares of TBCH opened at $12.55 on Friday. The company has a current ratio of 2.46, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40. The firm’s 50-day moving average is $12.28 and its two-hundred day moving average is $12.35. Turtle Beach has a twelve month low of $9.84 and a twelve month high of $17.39. The firm has a market capitalization of $249.12 million, a P/E ratio of 418.33 and a beta of 2.28.

Turtle Beach (NASDAQ:TBCH) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.35). The company had revenue of $42.17 million for the quarter. Turtle Beach had a net margin of 0.40% and a return on equity of 1.31%. On average, research analysts predict that Turtle Beach will post 0.87 earnings per share for the current fiscal year.

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.