Royal Bank of Canada Increases Sixth Street Specialty Lending (NYSE:TSLX) Price Target to $25.00

Sixth Street Specialty Lending (NYSE:TSLX) had its price target raised by Royal Bank of Canada from $23.00 to $25.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 7.58% from the stock’s current price.

Several other brokerages have also recently issued reports on TSLX. Keefe, Bruyette & Woods lifted their price target on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Wells Fargo & Company lifted their target price on Sixth Street Specialty Lending from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. upped 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 report on Tuesday, February 18th. Truist Financial lifted their price objective on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Finally, LADENBURG THALM/SH SH lowered shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research note on Friday, February 14th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Sixth Street Specialty Lending currently has an average rating of “Moderate Buy” and a consensus price target of $23.07.

Sixth Street Specialty Lending Stock Performance

TSLX stock opened at $23.24 on Wednesday. The company has a 50-day simple moving average of $21.91 and a 200 day simple moving average of $21.17. The company has a market capitalization of $2.18 billion, a P/E ratio of 11.45 and a beta of 1.06. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.18. Sixth Street Specialty Lending has a fifty-two week low of $19.50 and a fifty-two week high of $23.66.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $120.07 million. Sell-side analysts predict that Sixth Street Specialty Lending will post 2.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Sixth Street Specialty Lending during the 4th quarter worth about $17,488,000. Columbus Macro LLC purchased a new stake in shares of Sixth Street Specialty Lending in the fourth quarter worth approximately $7,669,000. Progeny 3 Inc. boosted its holdings in shares of Sixth Street Specialty Lending by 10.6% during the third quarter. Progeny 3 Inc. now owns 2,252,774 shares of the financial services provider’s stock worth $46,249,000 after purchasing an additional 215,996 shares during the period. Parkwood LLC purchased a new position in Sixth Street Specialty Lending during the fourth quarter valued at approximately $3,937,000. Finally, JPMorgan Chase & Co. increased its stake in 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 valued at $24,131,000 after buying an additional 162,810 shares during the period. 70.25% of the stock is owned by hedge funds and other 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.