Sixth Street Specialty Lending (NYSE:TSLX) Earns Outperform Rating from Royal Bank of Canada

Sixth Street Specialty Lending (NYSE:TSLX)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank of Canada in a report issued on Tuesday,Benzinga reports. They currently have a $23.00 price target on the financial services provider’s stock. Royal Bank of Canada’s target price suggests a potential upside of 12.75% from the company’s current price.

Several other research firms have also issued reports on TSLX. Wells Fargo & Company lowered their price objective on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. LADENBURG THALM/SH SH raised shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Sixth Street Specialty Lending presently has a consensus rating of “Buy” and an average target price of $22.00.

Sixth Street Specialty Lending Trading Up 0.1 %

Shares of TSLX opened at $20.40 on Tuesday. The stock has a market capitalization of $1.90 billion, a PE ratio of 9.90 and a beta of 1.06. The company’s fifty day moving average is $20.60 and its 200 day moving average is $21.04. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.50 and a current ratio of 2.50. Sixth Street Specialty Lending has a fifty-two week low of $19.50 and a fifty-two week high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. The firm had revenue of $119.22 million for the quarter, compared to the consensus estimate of $119.85 million. During the same period in the previous year, the firm posted $0.60 EPS. Sell-side analysts expect that Sixth Street Specialty Lending will post 2.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Institutional investors and hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp raised its holdings in shares of Sixth Street Specialty Lending by 18.6% in the 2nd quarter. Van ECK Associates Corp now owns 2,147,972 shares of the financial services provider’s stock valued at $45,859,000 after purchasing an additional 336,596 shares in the last quarter. Millennium Management LLC raised its stake in Sixth Street Specialty Lending by 482.6% in the second quarter. Millennium Management LLC now owns 287,311 shares of the financial services provider’s stock worth $6,134,000 after buying an additional 237,995 shares in the last quarter. TrueMark Investments LLC purchased a new stake in Sixth Street Specialty Lending during the second quarter worth $4,378,000. Baillie Gifford & Co. boosted its position in Sixth Street Specialty Lending by 81.9% during the 2nd quarter. Baillie Gifford & Co. now owns 410,054 shares of the financial services provider’s stock valued at $8,755,000 after acquiring an additional 184,634 shares in the last quarter. Finally, Cetera Advisors LLC increased its holdings in shares of Sixth Street Specialty Lending by 811.5% in the 1st quarter. Cetera Advisors LLC now owns 136,262 shares of the financial services provider’s stock valued at $2,920,000 after acquiring an additional 121,312 shares during the period. 70.25% of the stock is owned by institutional investors.

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.