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

Sixth Street Specialty Lending (NYSE:TSLX) had its price target lifted by research analysts at Truist Financial from $23.00 to $24.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price would suggest a potential upside of 3.98% from the stock’s previous close.

TSLX has been the subject of a number of other research reports. Keefe, Bruyette & Woods raised their price target on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday. LADENBURG THALM/SH SH lowered Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research note on Friday. Royal Bank of Canada reissued an “outperform” rating and set a $23.00 price objective on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Wells Fargo & Company upped their target price on shares of Sixth Street Specialty Lending from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.79.

Sixth Street Specialty Lending Price Performance

TSLX traded up $0.12 during trading on Tuesday, reaching $23.08. The company’s stock had a trading volume of 496,902 shares, compared to its average volume of 300,283. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 11.20 and a beta of 1.06. The firm has a fifty day simple moving average of $21.60 and a two-hundred day simple moving average of $21.03. Sixth Street Specialty Lending has a 1 year low of $19.50 and a 1 year high of $23.15. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $123.70 million for the quarter, compared to the consensus estimate of $120.07 million. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. As a group, analysts anticipate that Sixth Street Specialty Lending will post 2.31 EPS for the current year.

Institutional Trading of Sixth Street Specialty Lending

Hedge funds have recently made changes to their positions in the business. Burgundy Asset Management Ltd. grew its holdings in shares of Sixth Street Specialty Lending by 1.7% in the fourth quarter. Burgundy Asset Management Ltd. now owns 2,192,486 shares of the financial services provider’s stock valued at $46,700,000 after purchasing an additional 37,442 shares in the last quarter. Principal Street Partners LLC purchased a new position in Sixth Street Specialty Lending in the fourth quarter valued at $306,000. Tidal Investments LLC grew its stake in Sixth Street Specialty Lending by 2.3% during the 4th quarter. Tidal Investments LLC now owns 52,051 shares of the financial services provider’s stock worth $1,109,000 after purchasing an additional 1,168 shares in the last quarter. ProShare Advisors LLC grew its stake in Sixth Street Specialty Lending by 16.0% during the 4th quarter. ProShare Advisors LLC now owns 18,086 shares of the financial services provider’s stock worth $385,000 after purchasing an additional 2,489 shares in the last quarter. Finally, Progeny 3 Inc. increased its holdings in Sixth Street Specialty Lending by 6.1% during the 4th quarter. Progeny 3 Inc. now owns 2,390,680 shares of the financial services provider’s stock worth $50,921,000 after purchasing an additional 137,906 shares during the period. Institutional investors and hedge funds own 70.25% of the company’s stock.

About Sixth Street Specialty Lending

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.