Turtle Beach Corporation (NASDAQ:TBCH) Given Consensus Rating of “Hold” by Brokerages

Turtle Beach Corporation (NASDAQ:TBCH) has earned a consensus rating of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $18.00.

TBCH has been the topic of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of Turtle Beach in a report on Monday, December 29th. B. Riley assumed coverage on shares of Turtle Beach in a research report on Thursday, October 2nd. They issued a “buy” rating and a $21.00 target price for the company. Zacks Research downgraded shares of Turtle Beach from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Roth Capital dropped their price objective on shares of Turtle Beach from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, November 24th. Finally, Wedbush increased their price objective on shares of Turtle Beach from $13.50 to $14.00 and gave the company a “neutral” rating in a report on Friday, November 7th.

Hedge Funds Weigh In On Turtle Beach

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

Turtle Beach Price Performance

Shares of Turtle Beach stock opened at $13.29 on Friday. The business has a 50 day simple moving average of $14.19 and a two-hundred day simple moving average of $14.76. Turtle Beach has a 12 month low of $8.78 and a 12 month high of $19.50. The stock has a market capitalization of $256.63 million, a P/E ratio of 15.45, a PEG ratio of 0.72 and a beta of 2.15. 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 released its earnings results on Thursday, November 6th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.07). The firm had revenue of $80.46 million during the quarter. Turtle Beach had a net margin of 5.26% and a return on equity of 16.44%. As a group, analysts predict that Turtle Beach will post 1.17 EPS for the current fiscal year.

About Turtle Beach

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.