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

Turtle Beach Corporation (NASDAQ:TBCH) has earned an average recommendation of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $18.00.

A number of brokerages recently commented on TBCH. Weiss Ratings reissued a “hold (c)” rating on shares of Turtle Beach in a research note on Monday, December 29th. Roth Mkm decreased their price objective on Turtle Beach from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, November 24th. Wedbush raised their price objective on Turtle Beach from $13.50 to $14.00 and gave the company a “neutral” rating in a research report on Friday, November 7th. Finally, Zacks Research downgraded shares of Turtle Beach from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th.

Turtle Beach Trading Down 1.8%

Shares of NASDAQ TBCH opened at $12.08 on Wednesday. Turtle Beach has a twelve month low of $8.78 and a twelve month high of $19.50. The firm has a market cap of $233.26 million, a PE ratio of 14.05, a price-to-earnings-growth ratio of 0.66 and a beta of 2.23. The business has a fifty day simple moving average of $13.70 and a two-hundred day simple moving average of $14.68. The company has a quick ratio of 0.75, a current ratio of 1.60 and a debt-to-equity ratio of 0.44.

Turtle Beach (NASDAQ:TBCH) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.07). Turtle Beach had a net margin of 5.26% and a return on equity of 16.44%. The firm had revenue of $80.46 million for the quarter. Analysts expect that Turtle Beach will post 1.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Turtle Beach

Institutional investors and hedge funds have recently bought and sold shares of the company. Garnet Equity Capital Holdings Inc. acquired a new stake in shares of Turtle Beach in the 2nd quarter worth $22,608,000. Bank of America Corp DE acquired a new stake in Turtle Beach in the second quarter worth about $6,930,000. AWM Investment Company Inc. acquired a new stake in Turtle Beach in the second quarter worth about $6,256,000. Geode Capital Management LLC purchased a new stake in shares of Turtle Beach during the second quarter worth about $5,438,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Turtle Beach by 1,066.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 213,469 shares of the company’s stock valued at $3,394,000 after acquiring an additional 195,167 shares in the last quarter. 67.01% of the stock is owned by hedge funds and other institutional investors.

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.