Sixth Street Specialty Lending (NYSE:TSLX) Price Target Cut to $24.00 by Analysts at Royal Bank Of Canada

Sixth Street Specialty Lending (NYSE:TSLX) had its target price dropped by equities research analysts at Royal Bank Of Canada from $25.00 to $24.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price target points to a potential upside of 14.89% from the company’s previous close.

A number of other analysts have also recently commented on TSLX. Wells Fargo & Company lowered their price target on Sixth Street Specialty Lending from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Weiss Ratings restated a “buy (b)” rating on shares of Sixth Street Specialty Lending in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods dropped their target price on Sixth Street Specialty Lending from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $24.00 price target on shares of Sixth Street Specialty Lending in a report on Wednesday, October 1st. Finally, JMP Securities upped their price objective on shares of 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 research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Sixth Street Specialty Lending currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.50.

Sixth Street Specialty Lending Stock Performance

NYSE:TSLX traded up $0.01 during trading hours on Wednesday, hitting $20.89. 100,755 shares of the company were exchanged, compared to its average volume of 480,622. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.79 and a quick ratio of 3.79. Sixth Street Specialty Lending has a 52-week low of $18.58 and a 52-week high of $25.17. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 10.38 and a beta of 0.84. The company’s 50 day moving average price is $22.30 and its 200-day moving average price is $23.13.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. The business had revenue of $109.40 million during the quarter, compared to analysts’ expectations of $108.35 million. Sixth Street Specialty Lending had a net margin of 39.56% and a return on equity of 13.47%. During the same quarter last year, the company posted $0.57 earnings per share. As a group, research analysts forecast that Sixth Street Specialty Lending will post 2.19 earnings per share for the current year.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MTM Investment Management LLC purchased a new position in Sixth Street Specialty Lending in the 2nd quarter valued at about $49,000. Advisory Services Network LLC purchased a new stake in shares of Sixth Street Specialty Lending during the third quarter worth approximately $75,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Sixth Street Specialty Lending during the third quarter worth approximately $79,000. First Horizon Advisors Inc. raised its stake in Sixth Street Specialty Lending by 74.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 4,123 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 1,753 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in Sixth Street Specialty Lending in the 3rd quarter valued at $98,000. 70.25% of the stock is owned by hedge funds and other institutional investors.

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.