Sixth Street Specialty Lending (NYSE:TSLX) Price Target Raised to $23.00 at JPMorgan Chase & Co.

Sixth Street Specialty Lending (NYSE:TSLX) had its price target raised by analysts at JPMorgan Chase & Co. from $22.50 to $23.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 0.18% from the company’s current price.

A number of other research analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday. Wells Fargo & Company boosted their price objective on 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. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Finally, LADENBURG THALM/SH SH cut Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a report on Friday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.64.

Sixth Street Specialty Lending Stock Performance

Shares of TSLX stock traded up $0.08 during trading hours on Tuesday, reaching $23.04. 69,451 shares of the company traded hands, compared to its average volume of 287,822. The firm has a 50-day moving average price of $21.60 and a 200 day moving average price of $21.03. The company has a market cap of $2.15 billion, a P/E ratio of 11.21 and a beta of 1.06. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.50 and a quick ratio of 2.50. Sixth Street Specialty Lending has a 12-month low of $19.50 and a 12-month high of $23.15.

Sixth Street Specialty Lending (NYSE:TSLX) last released its earnings results 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 company had revenue of $123.70 million for the quarter, compared to analysts’ expectations of $120.07 million. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. As a group, sell-side analysts predict that Sixth Street Specialty Lending will post 2.31 earnings per share for the current fiscal year.

Institutional Trading of Sixth Street Specialty Lending

Several hedge funds have recently modified their holdings of TSLX. Private Advisor Group LLC increased its position in Sixth Street Specialty Lending by 26.8% in the third quarter. Private Advisor Group LLC now owns 25,503 shares of the financial services provider’s stock worth $524,000 after purchasing an additional 5,398 shares during the last quarter. Legacy Capital Wealth Partners LLC grew its stake in shares of Sixth Street Specialty Lending by 98.6% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 144,698 shares of the financial services provider’s stock worth $2,971,000 after buying an additional 71,849 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Sixth Street Specialty Lending by 16.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,175,388 shares of the financial services provider’s stock worth $24,131,000 after buying an additional 162,810 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Sixth Street Specialty Lending by 6.6% during the 3rd quarter. Van ECK Associates Corp now owns 2,289,435 shares of the financial services provider’s stock valued at $47,117,000 after buying an additional 141,463 shares in the last quarter. Finally, Gilman Hill Asset Management LLC purchased a new stake in shares of Sixth Street Specialty Lending during the 4th quarter valued at about $1,974,000. 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.