Turtle Beach (NASDAQ:TBCH) Price Target Cut to $16.00 by Analysts at Craig Hallum

Turtle Beach (NASDAQ:TBCH) had its price objective lowered by equities researchers at Craig Hallum from $23.00 to $16.00 in a report issued on Friday, Marketbeat.com reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s target price points to a potential upside of 51.52% from the stock’s previous close.

Separately, Wedbush restated a “neutral” rating and issued a $9.00 price objective (down previously from $21.00) on shares of Turtle Beach in a research note on Tuesday, May 6th.

Turtle Beach Stock Performance

TBCH opened at $10.56 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.60 and a debt-to-equity ratio of 0.45. Turtle Beach has a one year low of $8.78 and a one year high of $19.50. The stock has a market cap of $212.44 million, a P/E ratio of 36.41, a P/E/G ratio of 0.77 and a beta of 2.04. The firm has a 50-day simple moving average of $12.40.

Turtle Beach (NASDAQ:TBCH) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. The company had revenue of $63.90 million for the quarter, compared to analyst estimates of $62.33 million. Turtle Beach had a net margin of 1.41% and a return on equity of 9.18%. As a group, analysts predict that Turtle Beach will post 1.17 earnings per share for the current fiscal year.

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.