Sixth Street Specialty Lending (NYSE:TSLX) Price Target Cut to $22.00 by Analysts at Royal Bank Of Canada

Sixth Street Specialty Lending (NYSE:TSLX) had its target price dropped by equities researchers at Royal Bank Of Canada from $24.00 to $22.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 20.34% from the company’s current price.

Several other research firms have also recently issued reports on TSLX. Keefe, Bruyette & Woods cut their price objective on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday. Citizens Jmp reaffirmed a “market outperform” rating and issued a $25.00 price target on shares of Sixth Street Specialty Lending in a research note on Wednesday. Weiss Ratings reissued a “buy (b-)” rating on shares of Sixth Street Specialty Lending in a research report on Wednesday, December 24th. Truist Financial reduced their price objective on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Sixth Street Specialty Lending from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $22.25.

Sixth Street Specialty Lending Stock Performance

Shares of NYSE:TSLX traded down $0.40 during midday trading on Friday, reaching $18.28. The company’s stock had a trading volume of 1,140,453 shares, compared to its average volume of 746,934. The stock has a fifty day moving average of $21.35 and a 200 day moving average of $22.28. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 1.08. Sixth Street Specialty Lending has a twelve month low of $18.20 and a twelve month high of $25.17. The firm has a market capitalization of $1.73 billion, a PE ratio of 10.11 and a beta of 0.70.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings results on Thursday, February 12th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The firm had revenue of $108.25 million for the quarter, compared to analyst estimates of $107.11 million. Sixth Street Specialty Lending had a return on equity of 12.71% and a net margin of 37.99%.During the same period in the previous year, the company posted $0.61 earnings per share. On average, equities analysts expect that Sixth Street Specialty Lending will post 2.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Sixth Street Specialty Lending

A number of institutional investors and hedge funds have recently bought and sold shares of TSLX. Caprock Group LLC bought a new position in shares of Sixth Street Specialty Lending in the third quarter worth about $1,478,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in Sixth Street Specialty Lending by 25.8% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 662,896 shares of the financial services provider’s stock valued at $15,154,000 after purchasing an additional 135,789 shares during the period. 1832 Asset Management L.P. grew its holdings in Sixth Street Specialty Lending by 13.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 395,347 shares of the financial services provider’s stock valued at $9,413,000 after buying an additional 45,347 shares during the last quarter. Tred Avon Family Wealth LLC acquired a new stake in Sixth Street Specialty Lending in the 3rd quarter valued at approximately $1,028,000. Finally, Rockefeller Capital Management L.P. increased its position in Sixth Street Specialty Lending by 7.3% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 207,112 shares of the financial services provider’s stock worth $4,931,000 after buying an additional 14,104 shares during the period. 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 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.