Turtle Beach (NASDAQ:TBCH) Price Target Lowered to $20.00 at B. Riley Financial

Turtle Beach (NASDAQ:TBCH) had its price target decreased by analysts at B. Riley Financial from $21.00 to $20.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley Financial’s price target suggests a potential upside of 53.49% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Weiss Ratings restated a “hold (c)” rating on shares of Turtle Beach in a report on Monday, December 29th. Roth Mkm reduced their target price on Turtle Beach from $22.00 to $20.00 and set a “buy” rating for the company in a report on Monday, November 24th. Zacks Research upgraded Turtle Beach from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 4th. Finally, Wedbush restated a “neutral” rating and set a $14.00 price objective on shares of Turtle Beach in a research report on Monday. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.80.

Turtle Beach Stock Down 2.3%

Turtle Beach stock traded down $0.30 during trading hours on Tuesday, hitting $13.03. The stock had a trading volume of 44,870 shares, compared to its average volume of 234,183. The company has a quick ratio of 0.75, a current ratio of 1.60 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $251.61 million, a P/E ratio of 15.15, a price-to-earnings-growth ratio of 0.69 and a beta of 2.22. Turtle Beach has a 12-month low of $8.78 and a 12-month high of $17.39. The stock’s 50-day moving average price is $12.74 and its 200-day moving average price is $14.22.

Hedge Funds Weigh In On Turtle Beach

Several hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its position in Turtle Beach by 87.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,988 shares of the company’s stock valued at $48,000 after purchasing an additional 1,392 shares in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in Turtle Beach during the 2nd quarter valued at $55,000. AlphaQuest LLC increased its holdings in shares of Turtle Beach by 44.9% in the 3rd quarter. AlphaQuest LLC now owns 5,461 shares of the company’s stock valued at $87,000 after acquiring an additional 1,693 shares during the period. Lazard Asset Management LLC purchased a new position in shares of Turtle Beach in the 2nd quarter valued at $76,000. Finally, Virtus Advisers LLC bought a new position in shares of Turtle Beach in the 2nd quarter worth $79,000. 67.01% of the stock is currently owned by institutional investors.

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.