Turtle Beach (NASDAQ:TBCH) Given New $11.00 Price Target at Wedbush

Turtle Beach (NASDAQ:TBCH) had its price target reduced by analysts at Wedbush from $14.00 to $11.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Wedbush’s price objective would suggest a potential downside of 17.11% from the stock’s previous close.

Other analysts have also issued research reports about the stock. B. Riley Financial lowered their price objective on shares of Turtle Beach from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Roth Mkm cut their target price on shares of Turtle Beach from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, November 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Turtle Beach in a research note on Monday, December 29th. Oppenheimer reiterated an “outperform” rating and set a $18.00 price objective (down from $20.00) on shares of Turtle Beach in a report on Friday. 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 issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Turtle Beach Trading Down 0.7%

Shares of TBCH stock opened at $13.27 on Monday. Turtle Beach has a fifty-two week low of $8.78 and a fifty-two week high of $17.39. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 1.98. The stock has a 50 day simple moving average of $12.69 and a two-hundred day simple moving average of $14.15. The company has a market cap of $260.09 million, a P/E ratio of 17.01, a PEG ratio of 0.72 and a beta of 2.22.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. purchased a new position in Turtle Beach in the second quarter valued at about $154,000. Geode Capital Management LLC purchased a new stake in Turtle Beach in the second quarter worth $5,438,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Turtle Beach in the second quarter worth $55,000. JPMorgan Chase & Co. bought a new stake in shares of Turtle Beach in the second quarter valued at $99,000. Finally, Franklin Resources Inc. bought a new stake in shares of Turtle Beach in the second quarter valued at $241,000. 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.