Sixth Street Specialty Lending (NYSE:TSLX) Price Target Raised to $24.00

Key Points

• Wells Fargo & Company has raised its target price for Sixth Street Specialty Lending (NYSE: TSLX) from $21.00 to $24.00, maintaining an "overweight" rating on the stock.
• The company reported $0.56** in earnings per share (EPS) for the quarter, exceeding analysts' expectations of $0.53, with revenue hitting $115.00 million.
• As of the latest reports, six analysts have issued a buy rating on TSLX, with a consensus price target of $23.06.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) had its target price increased by equities researchers at Wells Fargo & Company from $21.00 to $24.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's target price indicates a potential downside of 0.21% from the company's previous close.

A number of other brokerages have also weighed in on TSLX. JPMorgan Chase & Co. dropped their price objective on Sixth Street Specialty Lending from $23.00 to $21.50 and set an "overweight" rating on the stock in a report on Thursday, April 24th. B. Riley initiated coverage on Sixth Street Specialty Lending in a report on Tuesday, May 13th. They issued a "buy" rating and a $23.00 price objective on the stock. Finally, Raymond James Financial lowered their target price on Sixth Street Specialty Lending from $24.00 to $23.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $23.06.

Sixth Street Specialty Lending Trading Down 0.9%

Shares of NYSE TSLX traded down $0.23 during trading on Friday, hitting $24.05. 54,784 shares of the company were exchanged, compared to its average volume of 474,393. Sixth Street Specialty Lending has a 12-month low of $18.58 and a 12-month high of $25.17. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.06 and a current ratio of 3.06. The company has a fifty day moving average price of $23.69 and a 200-day moving average price of $22.46. The firm has a market capitalization of $2.26 billion, a PE ratio of 11.93 and a beta of 0.83.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.03. The firm had revenue of $115.00 million for the quarter, compared to analyst estimates of $110.42 million. Sixth Street Specialty Lending had a net margin of 39.56% and a return on equity of 13.50%. During the same period in the previous year, the firm earned $0.58 EPS. As a group, equities research analysts expect that Sixth Street Specialty Lending will post 2.19 EPS for the current year.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Several hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. boosted its holdings in shares of Sixth Street Specialty Lending by 8.8% during the second quarter. Envestnet Asset Management Inc. now owns 538,400 shares of the financial services provider's stock worth $12,819,000 after acquiring an additional 43,701 shares during the period. Focus Partners Advisor Solutions LLC raised its position in Sixth Street Specialty Lending by 81.6% during the second quarter. Focus Partners Advisor Solutions LLC now owns 16,296 shares of the financial services provider's stock valued at $388,000 after purchasing an additional 7,320 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Sixth Street Specialty Lending by 21.0% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 527,107 shares of the financial services provider's stock valued at $12,550,000 after purchasing an additional 91,500 shares in the last quarter. D.A. Davidson & CO. raised its position in Sixth Street Specialty Lending by 3.6% during the second quarter. D.A. Davidson & CO. now owns 179,702 shares of the financial services provider's stock valued at $4,279,000 after purchasing an additional 6,176 shares in the last quarter. Finally, Stableford Capital II LLC acquired a new position in shares of Sixth Street Specialty Lending during the second quarter worth $208,000. Institutional investors own 70.25% of the company's stock.

Sixth Street Specialty Lending Company Profile

Sixth Street Specialty Lending, Inc NYSE: TSLX is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), unsecured loans, mezzanine debt, and investments in corporate bonds and equity securities and structured products, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.

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