Wells Fargo & Company Lowers Sixth Street Specialty Lending (NYSE:TSLX) Price Target to $22.00

Sixth Street Specialty Lending (NYSE:TSLX) had its price objective dropped by equities researchers at Wells Fargo & Company from $23.00 to $22.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 4.35% from the company’s previous close.

A number of other equities analysts have also recently weighed in on TSLX. Truist Financial boosted their price target on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. reduced their target price on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “overweight” rating on the stock in a report on Thursday. LADENBURG THALM/SH SH lowered shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research report on Friday, February 14th. Royal Bank of Canada raised their target price on shares of Sixth Street Specialty Lending from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods boosted their price target on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sixth Street Specialty Lending currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.75.

Sixth Street Specialty Lending Price Performance

Shares of TSLX stock traded up $0.16 during mid-day trading on Monday, reaching $21.08. The stock had a trading volume of 46,478 shares, compared to its average volume of 454,928. The company has a market cap of $1.98 billion, a P/E ratio of 10.39 and a beta of 0.88. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.18. Sixth Street Specialty Lending has a 12-month low of $18.58 and a 12-month high of $23.67. The business has a 50-day simple moving average of $21.72 and a 200 day simple moving average of $21.39.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. The company had revenue of $123.70 million for the quarter, compared to the consensus estimate of $120.07 million. On average, sell-side analysts anticipate that Sixth Street Specialty Lending will post 2.19 earnings per share for the current year.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Several institutional investors and hedge funds have recently added to or reduced their stakes in TSLX. Van ECK Associates Corp increased its position in Sixth Street Specialty Lending by 4.5% during the 4th quarter. Van ECK Associates Corp now owns 2,393,069 shares of the financial services provider’s stock worth $50,972,000 after purchasing an additional 103,634 shares in the last quarter. Progeny 3 Inc. raised its stake in shares of Sixth Street Specialty Lending by 6.1% in the 4th quarter. Progeny 3 Inc. now owns 2,390,680 shares of the financial services provider’s stock valued at $50,921,000 after acquiring an additional 137,906 shares during the period. Sound Income Strategies LLC lifted its holdings in shares of Sixth Street Specialty Lending by 2.4% during the 1st quarter. Sound Income Strategies LLC now owns 2,361,139 shares of the financial services provider’s stock valued at $52,842,000 after acquiring an additional 55,767 shares in the last quarter. Burgundy Asset Management Ltd. boosted its position in Sixth Street Specialty Lending by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 2,192,486 shares of the financial services provider’s stock worth $46,700,000 after purchasing an additional 37,442 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in Sixth Street Specialty Lending by 2.9% in the 4th quarter. Wells Fargo & Company MN now owns 1,183,141 shares of the financial services provider’s stock valued at $25,201,000 after purchasing an additional 33,026 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.

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.