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

Key Points

• Wedbush reissued a "neutral" rating on Turtle Beach (NASDAQ:TBCH) with a $14.00 price target, implying roughly an 8.1% upside from current levels.
• Consensus among analysts is a Moderate Buy with a consensus target of $18.00, reflecting mixed views (four Buy and three Hold ratings) and recent divergent revisions from firms like Roth MKM and Zacks.
• Turtle Beach trades around $12.95 with a market cap near $250M, a P/E of 15.06 and PEG of 0.69, and about 67% of the stock owned by institutional investors amid recent hedge fund buying.

Turtle Beach (NASDAQ:TBCH - Get Free Report)'s stock had its "neutral" rating reissued by analysts at Wedbush in a report released on Monday,Benzinga reports. They currently have a $14.00 price target on the stock. Wedbush's price objective indicates a potential upside of 8.11% from the company's current price.

A number of other equities research analysts have also commented on the company. Weiss Ratings restated a "hold (c)" rating on shares of Turtle Beach in a research report on Monday, December 29th. Roth Mkm reduced 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 report on Monday, November 24th. 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 analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.00.

Turtle Beach Trading Up 1.4%

NASDAQ TBCH opened at $12.95 on Monday. The firm's 50 day moving average price is $12.75 and its two-hundred day moving average price is $14.23. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.75 and a current ratio of 1.60. Turtle Beach has a twelve month low of $8.78 and a twelve month high of $17.39. The stock has a market cap of $250.08 million, a price-to-earnings ratio of 15.06, a PEG ratio of 0.69 and a beta of 2.22.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Aristides Capital LLC acquired a new stake in shares of Turtle Beach in the 2nd quarter valued at $279,000. LSV Asset Management acquired a new position in Turtle Beach during the third quarter worth $2,304,000. Garnet Equity Capital Holdings Inc. bought a new position in Turtle Beach during the second quarter valued at about $22,608,000. AWM Investment Company Inc. bought a new position in Turtle Beach during the second quarter valued at about $6,256,000. Finally, Formula Growth Ltd. acquired a new stake in shares of Turtle Beach in the second quarter worth about $1,614,000. 67.01% of the stock is owned by institutional investors and hedge funds.

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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