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

Turtle Beach (NASDAQ:TBCH) had its price objective boosted by Wedbush from $20.00 to $21.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s target price would indicate a potential upside of 59.57% from the stock’s current price.

Turtle Beach Price Performance

Turtle Beach stock traded down $1.13 during trading hours on Friday, reaching $13.16. The company had a trading volume of 159,703 shares, compared to its average volume of 153,580. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.26 and a quick ratio of 0.60. The stock has a market capitalization of $264.24 million, a P/E ratio of 45.38, a price-to-earnings-growth ratio of 0.77 and a beta of 2.05. Turtle Beach has a 12-month low of $12.10 and a 12-month high of $19.50.

Turtle Beach (NASDAQ:TBCH) last released its earnings results on Thursday, March 13th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.11). Turtle Beach had a net margin of 1.41% and a return on equity of 9.18%. Analysts forecast that Turtle Beach will post 1.17 EPS for the current year.

About Turtle Beach

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.