Wedbush Forecasts Strong Price Appreciation for Turtle Beach (NASDAQ:TBCH) Stock

Turtle Beach (NASDAQ:TBCH) had its price objective hoisted by research analysts at Wedbush from $13.50 to $14.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Wedbush’s price target suggests a potential upside of 0.21% from the company’s current price.

Other analysts have also recently issued research reports about the company. B. Riley assumed coverage on Turtle Beach in a research report on Thursday, October 2nd. They set a “buy” rating and a $21.00 price target for the company. Oppenheimer reiterated an “outperform” rating and issued a $19.00 target price on shares of Turtle Beach in a report on Friday, August 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Turtle Beach in a research report on Wednesday, October 8th. Finally, Roth Capital reissued a “buy” rating and issued a $22.00 price target on shares of Turtle Beach in a research report on Monday, October 27th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.40.

Turtle Beach Stock Down 6.6%

TBCH traded down $0.98 on Friday, hitting $13.97. The company had a trading volume of 398,675 shares, compared to its average volume of 261,849. The stock has a fifty day simple moving average of $15.63 and a 200-day simple moving average of $14.04. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 0.81. The firm has a market capitalization of $276.70 million, a P/E ratio of 14.86, a P/E/G ratio of 0.91 and a beta of 2.01. Turtle Beach has a 52-week low of $8.78 and a 52-week high of $19.50.

Turtle Beach (NASDAQ:TBCH) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.07). Turtle Beach had a return on equity of 18.23% and a net margin of 5.53%.The firm had revenue of $80.46 million during the quarter. Turtle Beach has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Turtle Beach will post 1.17 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Dc Vga Llc sold 1,388,888 shares of Turtle Beach stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $14.41, for a total value of $20,013,876.08. Following the transaction, the insider directly owned 2,061,112 shares of the company’s stock, valued at $29,700,623.92. This trade represents a 40.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William Z. Wyatt purchased 693,962 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were acquired at an average price of $14.41 per share, for a total transaction of $9,999,992.42. Following the purchase, the director owned 693,962 shares in the company, valued at $9,999,992.42. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Signaturefd LLC bought a new stake in shares of Turtle Beach in the second quarter valued at about $41,000. AlphaQuest LLC bought a new stake in Turtle Beach during the second quarter worth about $52,000. Police & Firemen s Retirement System of New Jersey bought a new position in Turtle Beach in the second quarter valued at about $55,000. CWM LLC acquired a new position in Turtle Beach during the 2nd quarter worth approximately $65,000. Finally, Lazard Asset Management LLC bought a new position in shares of Turtle Beach in the 2nd quarter valued at $76,000. 67.01% of the stock is currently owned by institutional investors.

Turtle Beach Company Profile

Turtle Beach Corporation operates as an audio technology company. It develops, commercializes, and markets gaming headset solutions for various platforms, including video game and entertainment consoles, personal computers, handheld consoles, tablets, and mobile devices under the Turtle Beach brand. The company also offers gaming headsets, keyboards, mice, mousepads, and other accessories for the personal computer peripherals market under the brand of ROCCAT, as well as digital USB and analog microphones under the Neat Microphones brand.