Craig Hallum Initiates Coverage on Turtle Beach (NASDAQ:TBCH)

Craig Hallum began coverage on shares of Turtle Beach (NASDAQ:TBCH) in a report issued on Monday morning, Marketbeat reports. The brokerage issued a buy rating and a $23.00 target price on the stock.

Separately, Wedbush increased their target price on Turtle Beach from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Friday, March 14th.

Turtle Beach Stock Performance

Shares of Turtle Beach stock opened at $15.06 on Monday. The stock has a market capitalization of $300.76 million, a P/E ratio of 51.93, a PEG ratio of 0.77 and a beta of 2.05. Turtle Beach has a 52-week low of $12.10 and a 52-week high of $19.50. 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 (NASDAQ:TBCH) last posted its quarterly 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). The business had revenue of $146.08 million during the quarter, compared to the consensus estimate of $154.10 million. Turtle Beach had a net margin of 1.41% and a return on equity of 9.18%. On average, sell-side analysts predict that Turtle Beach will post 1.17 earnings per share 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.