Weiss Ratings Reaffirms Buy (B) Rating for Sixth Street Specialty Lending (NYSE:TSLX)

Key Points

• Weiss Ratings has reaffirmed a "Buy (B)" rating for Sixth Street Specialty Lending (NYSE: TSLX), indicating positive outlook from investment analysts.
• Despite a recent trading drop of 1.3%, Sixth Street Specialty Lending's stock has an average rating of "Moderate Buy" and a price target of $23.56 from analysts.
• In its latest earnings report, the company posted an EPS of $0.56, exceeding analyst expectations, alongside revenues of $115 million for the quarter.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report)'s stock had its "buy (b)" rating restated by investment analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other equities analysts also recently issued reports on TSLX. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $24.00 price objective on shares of Sixth Street Specialty Lending in a report on Wednesday, October 1st. Wells Fargo & Company raised their price target on Sixth Street Specialty Lending from $21.00 to $24.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, JMP Securities raised their price target on Sixth Street Specialty Lending from $24.00 to $25.00 and gave the company a "market outperform" rating in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $23.56.

Sixth Street Specialty Lending Trading Down 1.3%

Shares of Sixth Street Specialty Lending stock traded down $0.29 during midday trading on Wednesday, reaching $21.55. 797,992 shares of the company's stock traded hands, compared to its average volume of 465,047. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.79 and a current ratio of 3.79. The company has a market cap of $2.03 billion, a PE ratio of 10.72 and a beta of 0.85. The stock has a 50 day moving average of $23.77 and a 200-day moving average of $22.92. Sixth Street Specialty Lending has a 12 month low of $18.58 and a 12 month high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last announced its earnings results on Wednesday, July 30th. The financial services provider reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.03. The company had revenue of $115.00 million during the quarter, compared to the consensus estimate of $110.42 million. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 39.56%.During the same quarter in the prior year, the company earned $0.58 earnings per share. As a group, equities analysts expect that Sixth Street Specialty Lending will post 2.19 EPS for the current fiscal year.

Institutional Trading of Sixth Street Specialty Lending

Large investors have recently added to or reduced their stakes in the company. Sound Income Strategies LLC increased its stake in Sixth Street Specialty Lending by 1.9% in the 2nd quarter. Sound Income Strategies LLC now owns 2,406,296 shares of the financial services provider's stock worth $57,294,000 after acquiring an additional 45,157 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Sixth Street Specialty Lending by 108.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 276,845 shares of the financial services provider's stock worth $6,196,000 after acquiring an additional 144,096 shares during the last quarter. Cetera Investment Advisers increased its stake in Sixth Street Specialty Lending by 8.1% in the 1st quarter. Cetera Investment Advisers now owns 448,898 shares of the financial services provider's stock worth $10,046,000 after acquiring an additional 33,818 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Sixth Street Specialty Lending by 15.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 435,607 shares of the financial services provider's stock worth $9,749,000 after acquiring an additional 57,962 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Sixth Street Specialty Lending during the 1st quarter valued at approximately $201,000. 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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