Turtle Beach (NASDAQ:TBCH) Rating Lowered to "Neutral" at B. Riley Financial

Key Points

• B. Riley downgraded Turtle Beach from “Buy” to “Neutral”, maintaining a $17 price target, about 13% above the prior close.
• Analyst opinions remain mixed: MarketBeat’s consensus rating is “Hold,” with an average target price of $15.80.
• Turtle Beach shares fell 9.6% Friday to $15.05. The company reported quarterly EPS of $0.24, missing the $0.26 consensus, on revenue of $84.7 million.

Turtle Beach (NASDAQ:TBCH - Get Free Report) was downgraded by stock analysts at B. Riley Financial from a "buy" rating to a "neutral" rating in a report issued on Friday, Benzinga reports. They currently have a $17.00 target price on the stock. B. Riley Financial's target price points to a potential upside of 12.96% from the stock's previous close.

TBCH has been the subject of several other reports. Zacks Research upgraded shares of Turtle Beach from a "strong sell" rating to a "hold" rating in a report on Tuesday, October 6th. Roth Capital reaffirmed a "buy" rating and set a $18.00 price objective on shares of Turtle Beach in a research report on Thursday, October 15th. Weiss Ratings upgraded Turtle Beach from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday, October 19th. Finally, Wall Street Zen raised Turtle Beach from a "hold" rating to a "buy" rating in a research report on Saturday, October 3rd. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Turtle Beach has an average rating of "Hold" and a consensus target price of $15.80.

Turtle Beach Trading Down 9.6%

NASDAQ:TBCH traded down $1.60 during trading hours on Friday, hitting $15.05. The company had a trading volume of 280,679 shares, compared to its average volume of 334,771. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.38 and a quick ratio of 1.30. The stock has a 50-day moving average price of $13.93 and a 200 day moving average price of $12.63. The company has a market capitalization of $269.55 million, a PE ratio of -71.52 and a beta of 2.36. Turtle Beach has a 52 week low of $9.84 and a 52 week high of $17.10.

Turtle Beach (NASDAQ:TBCH - Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.02). Turtle Beach had a negative return on equity of 2.26% and a negative net margin of 1.07%. The company had revenue of $84.70 million during the quarter. On average, equities research analysts predict that Turtle Beach will post 0.69 EPS for the current fiscal year.

Insider Activity at Turtle Beach

In other news, major shareholder Dc Vga Llc sold 5,671 shares of the business's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $13.00, for a total transaction of $73,723.00. Following the sale, the insider owned 1,775,441 shares in the company, valued at approximately $23,080,733. The trade was a 0.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.40% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in Turtle Beach by 26.1% during the first quarter. Dimensional Fund Advisors LP now owns 437,882 shares of the company's stock worth $4,440,000 after acquiring an additional 90,677 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Turtle Beach in the second quarter worth about $741,000. Globeflex Capital L P purchased a new stake in Turtle Beach in the second quarter worth about $596,000. Pinnacle Holdings LLC bought a new position in shares of Turtle Beach during the second quarter valued at approximately $798,000. Finally, Pullen Investment Management LLC increased its stake in shares of Turtle Beach by 20.6% during the third quarter. Pullen Investment Management LLC now owns 193,581 shares of the company's stock valued at $2,472,000 after purchasing an additional 33,013 shares in the last quarter. 67.01% of the stock is owned by hedge funds and other institutional investors.

More Turtle Beach News

Here are the key news stories impacting Turtle Beach this week:

• Positive Sentiment: Zacks added TBCH to its Rank #1 (Strong Buy) list. New Strong Buy Stocks for November 6th
• Positive Sentiment: The company reaffirmed its full-year guidance, while Zacks reported quarterly earnings of $0.26 per share—up from $0.08 a year earlier and in line with consensus. Third-quarter results and guidance
• Neutral Sentiment: Brokerages’ average price target was reported at $16.40, suggesting potential upside relative to the stock’s recent trading level, though targets are estimates and not guarantees. Brokerage price target report
• Negative Sentiment: Earnings coverage was inconsistent: MarketBeat reported EPS of $0.24, below the $0.26 consensus, and revenue of $84.7 million. The company also reported a negative net margin and negative return on equity, weighing on sentiment. Quarterly earnings report

Turtle Beach Company Profile

Turtle Beach Corporation NASDAQ: TBCH develops and markets gaming accessories and related consumer technology products. Its portfolio includes gaming headsets, controllers, keyboards, mice, microphones, and other accessories designed for use with consoles, PCs, and mobile devices. The company also offers products for flight simulation and other gaming applications.

The company's products are sold under the Turtle Beach brand and, following its acquisition of Performance Designed Products, under brands including PDP.

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