Sixth Street Specialty Lending (NYSE:TSLX) Price Target Raised to $19.50

Key Points

• Keefe, Bruyette & Woods raised Sixth Street Specialty Lending’s price target to $19.50 from $18.50 and maintained an “outperform” rating, implying about 4.05% upside from the stock’s $18.74 price.
• Analyst sentiment remains favorable overall, with five Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $19.83.
• TSLX beat quarterly expectations, reporting $0.43 in earnings per share versus the $0.42 consensus and revenue of $97.84 million versus $95.28 million expected; institutional investors and hedge funds own 70.25% of the shares.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) had its price target hoisted by stock analysts at Keefe, Bruyette & Woods from $18.50 to $19.50 in a research note issued on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price objective suggests a potential upside of 4.05% from the stock's current price.

Several other research analysts have also commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Sixth Street Specialty Lending from $17.50 to $16.50 and set a "neutral" rating for the company in a research note on Thursday, July 2nd. Truist Financial cut their price target on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set a "buy" rating on the stock in a report on Thursday, May 7th. Weiss Ratings downgraded Sixth Street Specialty Lending from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, May 18th. Zacks Research upgraded Sixth Street Specialty Lending from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 7th. Finally, Wells Fargo & Company dropped their target price on Sixth Street Specialty Lending from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Thursday, May 7th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.83.

Sixth Street Specialty Lending Stock Down 1.9%

Shares of TSLX traded down $0.36 during trading hours on Monday, hitting $18.74. The company had a trading volume of 81,661 shares, compared to its average volume of 814,999. The company has a current ratio of 9.83, a quick ratio of 9.83 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $1.78 billion, a PE ratio of 19.75 and a beta of 0.59. Sixth Street Specialty Lending has a one year low of $16.04 and a one year high of $24.79. The company's fifty day moving average price is $17.20 and its two-hundred day moving average price is $18.24.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.01. Sixth Street Specialty Lending had a return on equity of 11.33% and a net margin of 21.79%.The company had revenue of $97.84 million for the quarter, compared to the consensus estimate of $95.28 million. During the same quarter last year, the company earned $0.56 earnings per share. As a group, equities analysts forecast that Sixth Street Specialty Lending will post 1.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Hedge funds have recently made changes to their positions in the company. Legal & General Group Plc raised its holdings in shares of Sixth Street Specialty Lending by 16.0% during the fourth quarter. Legal & General Group Plc now owns 665,352 shares of the financial services provider's stock worth $14,455,000 after purchasing an additional 91,578 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Sixth Street Specialty Lending during the 1st quarter valued at about $2,809,000. Tectonic Advisors LLC lifted its holdings in shares of Sixth Street Specialty Lending by 10.5% in the 4th quarter. Tectonic Advisors LLC now owns 617,476 shares of the financial services provider's stock valued at $13,412,000 after buying an additional 58,538 shares during the period. OMERS ADMINISTRATION Corp boosted its stake in shares of Sixth Street Specialty Lending by 157.2% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 469,109 shares of the financial services provider's stock worth $10,189,000 after buying an additional 286,724 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in Sixth Street Specialty Lending by 11.8% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 741,125 shares of the financial services provider's stock worth $16,097,000 after acquiring an additional 78,229 shares during the period. 70.25% of the stock is owned by institutional investors and hedge funds.

About Sixth Street Specialty Lending

Sixth Street Specialty Lending Inc NYSE: TSLX is a closed-end, externally managed business development company that provides flexible debt financing solutions to middle-market companies. The fund primarily targets senior secured loans, unitranche facilities, mezzanine debt, second-lien financings and equity co-investment opportunities. By structuring tailored capital solutions, Sixth Street Specialty Lending seeks to support growth initiatives, recapitalizations and refinancings across a diverse set of industries, including technology, healthcare and business services.

As an affiliate of Sixth Street Partners, a global alternative investment firm, the company leverages the broader platform’s credit research, operational expertise and industry relationships.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source