Turtle Beach (NASDAQ:TBCH) Receives Neutral Rating from Wedbush

Turtle Beach (NASDAQ:TBCH)‘s stock had its “neutral” rating reaffirmed by analysts at Wedbush in a report issued on Monday,Benzinga reports. They currently have a $14.00 target price on the stock. Wedbush’s target price points to a potential upside of 8.11% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Roth Mkm reduced 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Turtle Beach in a report on Monday, December 29th. Finally, Zacks Research raised shares of Turtle Beach from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 4th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Turtle Beach currently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Turtle Beach Stock Up 1.4%

Shares of Turtle Beach stock opened at $12.95 on Monday. Turtle Beach has a 12-month low of $8.78 and a 12-month high of $17.39. The company has a quick ratio of 0.75, a current ratio of 1.60 and a debt-to-equity ratio of 0.44. The stock has a 50 day moving average price of $12.75 and a two-hundred day moving average price of $14.23. The stock has a market capitalization of $250.08 million, a P/E ratio of 15.06, a PEG ratio of 0.69 and a beta of 2.22.

Institutional Investors Weigh In On Turtle Beach

Hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. acquired a new stake in shares of Turtle Beach in the second quarter worth $154,000. Los Angeles Capital Management LLC acquired a new position in Turtle Beach during the 2nd quarter valued at $453,000. Geode Capital Management LLC acquired a new position in Turtle Beach during the 2nd quarter valued at $5,438,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Turtle Beach in the 2nd quarter valued at $55,000. Finally, Garnet Equity Capital Holdings Inc. bought a new stake in Turtle Beach in the 2nd quarter valued at $22,608,000. 67.01% of the stock is owned by 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.