Turtle Beach (NASDAQ:TBCH) Given New $13.50 Price Target at Wedbush

Turtle Beach (NASDAQ:TBCH) had its price target upped by Wedbush from $12.00 to $13.50 in a report issued on Monday,Benzinga reports. Wedbush currently has a neutral rating on the stock.

Separately, Craig Hallum decreased their price target on Turtle Beach from $23.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, May 9th.

Turtle Beach Stock Performance

Shares of TBCH opened at $14.32 on Monday. Turtle Beach has a 1 year low of $8.78 and a 1 year high of $19.50. The firm’s 50 day moving average price is $13.44. The stock has a market capitalization of $288.55 million, a P/E ratio of 19.62, a price-to-earnings-growth ratio of 1.12 and a beta of 1.96. The company has a quick ratio of 0.95, a current ratio of 1.96 and a debt-to-equity ratio of 0.38.

Turtle Beach (NASDAQ:TBCH) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. Turtle Beach had a return on equity of 15.59% and a net margin of 4.03%. The company had revenue of $63.90 million during the quarter, compared to the consensus estimate of $62.33 million. Equities analysts expect that Turtle Beach will post 1.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Turtle Beach

A number of hedge funds have recently made changes to their positions in TBCH. North Star Investment Management Corp. purchased a new position in shares of Turtle Beach in the 2nd quarter worth $3,153,000. Envestnet Asset Management Inc. purchased a new position in shares of Turtle Beach in the 2nd quarter worth about $154,000. CWM LLC acquired a new position in shares of Turtle Beach in the 2nd quarter valued at about $65,000. AlphaQuest LLC acquired a new position in shares of Turtle Beach in the 2nd quarter valued at about $52,000. Finally, Signaturefd LLC purchased a new stake in shares of Turtle Beach during the 2nd quarter worth about $41,000. Institutional investors and hedge funds own 67.01% of the company’s stock.

About Turtle Beach

Turtle Beach Corporation operates as an audio technology company. It develops, commercializes, and markets gaming headset solutions for various platforms, including video game and entertainment consoles, personal computers, handheld consoles, tablets, and mobile devices under the Turtle Beach brand. The company also offers gaming headsets, keyboards, mice, mousepads, and other accessories for the personal computer peripherals market under the brand of ROCCAT, as well as digital USB and analog microphones under the Neat Microphones brand.