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

Shares of Turtle Beach Corporation (NASDAQ:TBCH) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $18.00.

Several research analysts have commented on TBCH shares. B. Riley initiated coverage on Turtle Beach in a report on Thursday, October 2nd. They set a “buy” rating and a $21.00 price objective on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Turtle Beach in a research report on Monday, December 8th. Roth Capital decreased their price objective on Turtle Beach from $22.00 to $20.00 and set a “buy” rating for the company in a report on Monday, November 24th. Finally, Wedbush increased their target price on shares of Turtle Beach from $13.50 to $14.00 and gave the stock a “neutral” rating in a report on Friday, November 7th.

Hedge Funds Weigh In On Turtle Beach

Institutional investors have recently bought and sold shares of the business. North Star Investment Management Corp. purchased a new stake in Turtle Beach during the second quarter worth $3,153,000. Signaturefd LLC bought a new position in shares of Turtle Beach in the 2nd quarter worth $41,000. CWM LLC purchased a new stake in shares of Turtle Beach during the 2nd quarter worth $65,000. AlphaQuest LLC bought a new stake in Turtle Beach during the second quarter valued at about $52,000. Finally, Envestnet Asset Management Inc. bought a new stake in Turtle Beach during the second quarter valued at about $154,000. 67.01% of the stock is owned by hedge funds and other institutional investors.

Turtle Beach Trading Down 1.9%

TBCH stock opened at $14.66 on Tuesday. Turtle Beach has a 12 month low of $8.78 and a 12 month high of $19.50. The firm’s 50-day moving average is $14.98 and its 200 day moving average is $14.66. The company has a market capitalization of $283.08 million, a PE ratio of 17.05, a P/E/G ratio of 0.89 and a beta of 2.17. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.60 and a quick ratio of 0.75.

Turtle Beach (NASDAQ:TBCH) last issued its earnings results on Thursday, November 6th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.07). Turtle Beach had a return on equity of 16.44% and a net margin of 5.26%.The company had revenue of $80.46 million during the quarter. On average, research analysts anticipate 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.