Turtle Beach (NASDAQ:TBCH) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• Wall Street Zen upgraded Turtle Beach to “Buy” from “Hold,” although broader analyst sentiment remains mixed: MarketBeat reports an average rating of “Hold” and a consensus price target of $16.80.
• Turtle Beach shares opened at $12.45, within a 52-week range of $9.84 to $17.39. The company recently reported a quarterly loss of $0.38 per share, missing the $0.30 loss consensus estimate, on revenue of $56.37 million.
• A major shareholder sold 140,000 shares for approximately $1.78 million, while institutional investors own 67.01% of the company’s stock.

Turtle Beach (NASDAQ:TBCH - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Monday.

A number of other analysts have also recently commented on the stock. Craig Hallum restated a "buy" rating and issued a $15.00 price objective on shares of Turtle Beach in a research report on Friday, May 8th. Zacks Research lowered Turtle Beach from a "hold" rating to a "strong sell" rating in a report on Friday, August 7th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Turtle Beach in a research note on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $16.80.

Turtle Beach Price Performance

Shares of NASDAQ:TBCH opened at $12.45 on Monday. Turtle Beach has a 52 week low of $9.84 and a 52 week high of $17.39. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.30 and a current ratio of 2.38. The company has a market capitalization of $222.98 million, a PE ratio of -59.29 and a beta of 2.29. The company has a 50 day moving average price of $12.67 and a two-hundred day moving average price of $12.16.

Turtle Beach (NASDAQ:TBCH - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.08). The firm had revenue of $56.37 million during the quarter. Turtle Beach had a negative return on equity of 2.26% and a negative net margin of 1.07%. Analysts forecast that Turtle Beach will post 0.68 earnings per share for the current year.

Insiders Place Their Bets

In other Turtle Beach news, major shareholder Dc Vga Llc sold 140,000 shares of Turtle Beach stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $12.70, for a total value of $1,778,000.00. Following the transaction, the insider owned 1,921,112 shares of the company's stock, valued at approximately $24,398,122.40. The trade was a 6.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.40% of the company's stock.

Institutional Investors Weigh In On Turtle Beach

Several large investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. bought a new stake in Turtle Beach in the 2nd quarter valued at $154,000. Geode Capital Management LLC bought a new position in Turtle Beach during the 2nd quarter worth about $5,438,000. JPMorgan Chase & Co. bought a new position in Turtle Beach during the 2nd quarter worth about $99,000. Franklin Resources Inc. bought a new position in Turtle Beach during the 2nd quarter worth about $241,000. Finally, Rhumbline Advisers acquired a new stake in shares of Turtle Beach in the 2nd quarter valued at about $568,000. Institutional investors own 67.01% of the company's stock.

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.

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