Turtle Beach (NASDAQ:TBCH) Given New $11.00 Price Target at Wedbush

Turtle Beach (NASDAQ:TBCH) had its target price decreased by Wedbush from $14.00 to $11.00 in a report published on Monday,Benzinga reports. Wedbush currently has a neutral rating on the stock.

A number of other analysts have also issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $18.00 price target (down from $20.00) on shares of Turtle Beach in a research note on Friday. Zacks Research upgraded Turtle Beach from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Turtle Beach in a research note on Monday, December 29th. B. Riley Financial reduced their target price on shares of Turtle Beach from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. Finally, Roth Mkm decreased their price target on shares of Turtle Beach from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, November 24th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Turtle Beach presently has an average rating of “Moderate Buy” and an average price target of $17.00.

Turtle Beach Price Performance

NASDAQ:TBCH opened at $12.72 on Monday. The stock has a 50 day moving average of $12.67 and a two-hundred day moving average of $14.13. Turtle Beach has a 12 month low of $8.78 and a 12 month high of $17.39. The firm has a market cap of $249.31 million, a P/E ratio of 16.31, a price-to-earnings-growth ratio of 0.72 and a beta of 2.22. The company has a current ratio of 1.98, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36.

Institutional Trading of Turtle Beach

Large investors have recently added to or reduced their stakes in the stock. Windward Management LP acquired a new stake in shares of Turtle Beach in the 4th quarter worth $24,073,000. Bank of America Corp DE acquired a new position in shares of Turtle Beach during the 2nd quarter valued at about $6,930,000. Goldman Sachs Group Inc. boosted its position in shares of Turtle Beach by 328.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 596,508 shares of the company’s stock valued at $8,369,000 after acquiring an additional 457,125 shares during the last quarter. AWM Investment Company Inc. purchased a new stake in shares of Turtle Beach in the second quarter valued at about $6,256,000. Finally, Geode Capital Management LLC acquired a new stake in Turtle Beach during the second quarter worth about $5,438,000. 67.01% of the stock is currently owned by hedge funds and other institutional investors.

Turtle Beach Company Profile

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.