Turtle Beach Corporation (NASDAQ:TBCH) Receives $17.38 Average PT from Brokerages

Turtle Beach Corporation (NASDAQ:TBCH) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $18.30.

A number of equities analysts have commented on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Turtle Beach in a research note on Wednesday, October 8th. Wedbush reaffirmed a “neutral” rating and set a $13.50 price target (up previously from $12.00) on shares of Turtle Beach in a research note on Monday, August 4th. Roth Capital reaffirmed a “buy” rating and set a $22.00 price target on shares of Turtle Beach in a research note on Monday. Oppenheimer reaffirmed an “outperform” rating and set a $19.00 price target on shares of Turtle Beach in a research note on Friday, August 8th. Finally, B. Riley started coverage on Turtle Beach in a research note on Thursday, October 2nd. They set a “buy” rating and a $21.00 price target on the stock.

Insider Transactions at Turtle Beach

In related news, major shareholder Dc Vga Llc sold 1,388,888 shares of the company’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $14.41, for a total value of $20,013,876.08. Following the completion of the sale, the insider owned 2,061,112 shares in the company, valued at approximately $29,700,623.92. This represents a 40.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director William Z. Wyatt acquired 693,962 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The stock was bought at an average price of $14.41 per share, with a total value of $9,999,992.42. Following the acquisition, the director directly owned 693,962 shares of the company’s stock, valued at $9,999,992.42. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Turtle Beach

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC bought a new stake in Turtle Beach in the second quarter valued at about $41,000. AlphaQuest LLC bought a new stake in shares of Turtle Beach in the second quarter worth about $52,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Turtle Beach in the second quarter worth about $55,000. CWM LLC bought a new stake in shares of Turtle Beach in the second quarter worth about $65,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Turtle Beach in the second quarter worth about $76,000. Institutional investors own 67.01% of the company’s stock.

Turtle Beach Stock Down 1.6%

Shares of TBCH stock opened at $16.70 on Monday. The stock’s 50 day simple moving average is $15.56 and its 200 day simple moving average is $13.84. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.81 and a current ratio of 1.83. Turtle Beach has a twelve month low of $8.78 and a twelve month high of $19.50. The company has a market capitalization of $330.83 million, a price-to-earnings ratio of 17.77, a PEG ratio of 0.97 and a beta of 1.99.

Turtle Beach (NASDAQ:TBCH) last issued its quarterly earnings data on Wednesday, March 2nd. The company reported $0.84 earnings per share for the quarter. The business had revenue of $132.91 million for the quarter. Turtle Beach had a return on equity of 18.23% and a net margin of 5.53%. As a group, research analysts predict that Turtle Beach will post 1.17 EPS for the current year.

Turtle Beach Company Profile

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.