Turtle Beach (NASDAQ:TBCH) Upgraded at Zacks Research

Zacks Research upgraded shares of Turtle Beach (NASDAQ:TBCH) from a strong sell rating to a hold rating in a research report released on Wednesday,Zacks.com reports.

A number of other brokerages also recently issued reports on TBCH. Weiss Ratings reissued a “hold (c)” rating on shares of Turtle Beach in a research note on Monday, December 29th. Roth Mkm dropped their price objective on Turtle Beach from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, November 24th. Finally, Wedbush raised their target price on Turtle Beach from $13.50 to $14.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Turtle Beach Stock Up 2.2%

TBCH stock opened at $12.07 on Wednesday. Turtle Beach has a one year low of $8.78 and a one year high of $19.50. The stock has a market capitalization of $233.07 million, a PE ratio of 14.03, a price-to-earnings-growth ratio of 0.63 and a beta of 2.23. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.75 and a current ratio of 1.60. The company has a fifty day moving average of $13.60 and a 200-day moving average of $14.63.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TBCH. Garnet Equity Capital Holdings Inc. acquired a new stake in Turtle Beach in the 2nd quarter valued at about $22,608,000. Bank of America Corp DE purchased a new stake in shares of Turtle Beach in the second quarter valued at about $6,930,000. AWM Investment Company Inc. purchased a new stake in shares of Turtle Beach in the second quarter valued at about $6,256,000. Geode Capital Management LLC acquired a new stake in shares of Turtle Beach in the second quarter valued at approximately $5,438,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Turtle Beach by 11.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 311,237 shares of the company’s stock worth $4,948,000 after purchasing an additional 31,682 shares in the last quarter. Institutional investors and hedge funds own 67.01% of the company’s stock.

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.