Analysts Set Turtle Beach Corporation (NASDAQ:TBCH) Price Target at $18.00

Turtle Beach Corporation (NASDAQ:TBCH) has earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $18.00.

TBCH has been the topic of several recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Turtle Beach in a research report on Monday, December 29th. Zacks Research upgraded Turtle Beach from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Roth Mkm reduced their target price on shares of 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 price target on shares of Turtle Beach from $13.50 to $14.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th.

Turtle Beach Trading Up 2.2%

Shares of TBCH opened at $12.07 on Wednesday. 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 has a 1-year low of $8.78 and a 1-year high of $19.50. The stock has a market cap of $233.07 million, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 0.63 and a beta of 2.23. The firm has a 50 day simple moving average of $13.60 and a 200-day simple moving average of $14.63.

Turtle Beach (NASDAQ:TBCH) last announced 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). The company had revenue of $80.46 million for the quarter. Turtle Beach had a net margin of 5.26% and a return on equity of 16.44%. Equities analysts forecast that Turtle Beach will post 1.17 EPS for the current fiscal year.

Institutional Trading of Turtle Beach

Several hedge funds and other institutional investors have recently bought and sold shares of TBCH. LSV Asset Management raised its holdings in Turtle Beach by 11.2% in the 4th quarter. LSV Asset Management now owns 161,160 shares of the company’s stock valued at $2,261,000 after acquiring an additional 16,260 shares during the last quarter. Pullen Investment Management LLC grew its position in shares of Turtle Beach by 94.3% in the fourth quarter. Pullen Investment Management LLC now owns 143,337 shares of the company’s stock valued at $2,011,000 after purchasing an additional 69,558 shares during the period. JPMorgan Chase & Co. increased its stake in Turtle Beach by 290.0% in the third quarter. JPMorgan Chase & Co. now owns 27,789 shares of the company’s stock valued at $442,000 after purchasing an additional 20,664 shares during the last quarter. Virtus Advisers LLC lifted its position in Turtle Beach by 124.6% during the third quarter. Virtus Advisers LLC now owns 12,799 shares of the company’s stock worth $204,000 after buying an additional 7,100 shares during the period. Finally, Prentice Capital Management LP lifted its position in Turtle Beach by 27.1% during the third quarter. Prentice Capital Management LP now owns 112,836 shares of the company’s stock worth $1,794,000 after buying an additional 24,051 shares during the period. 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.