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

Shares of Turtle Beach Corporation (NASDAQ:TBCH) have been given an average recommendation of “Moderate Buy” by the six research firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $18.00.

TBCH has been the topic of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of Turtle Beach in a research note on Monday, December 15th. Wedbush raised their target price on shares of Turtle Beach from $13.50 to $14.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. B. Riley started coverage on shares of Turtle Beach in a research report on Thursday, October 2nd. They issued a “buy” rating and a $21.00 price target for the company. Finally, Roth Capital decreased their price target 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.

Turtle Beach Price Performance

Shares of NASDAQ:TBCH opened at $13.78 on Tuesday. Turtle Beach has a 12 month low of $8.78 and a 12 month high of $19.50. The firm has a market capitalization of $266.09 million, a P/E ratio of 16.02, a P/E/G ratio of 0.82 and a beta of 2.17. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.60 and a quick ratio of 0.75. The company’s fifty day moving average price is $14.88 and its 200 day moving average price is $14.73.

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

Hedge Funds Weigh In On Turtle Beach

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