Sixth Street Specialty Lending (NYSE:TSLX) Given New $25.00 Price Target at Royal Bank of Canada

Sixth Street Specialty Lending (NYSE:TSLX) had its price objective raised by investment analysts at Royal Bank of Canada from $23.00 to $25.00 in a research note issued on Wednesday,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 7.04% from the company’s current price.

A number of other equities analysts have also recently weighed in on the company. LADENBURG THALM/SH SH cut Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a report on Friday, February 14th. Keefe, Bruyette & Woods raised their target price on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Wells Fargo & Company raised their target price on Sixth Street Specialty Lending from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Truist Financial increased their price target on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. boosted their price target on Sixth Street Specialty Lending from $22.50 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.07.

Sixth Street Specialty Lending Stock Performance

NYSE:TSLX traded up $0.18 during trading hours on Wednesday, reaching $23.36. The stock had a trading volume of 125,708 shares, compared to its average volume of 367,658. The stock has a 50 day simple moving average of $21.85 and a 200 day simple moving average of $21.15. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.90 and a current ratio of 1.90. Sixth Street Specialty Lending has a 12-month low of $19.50 and a 12-month high of $23.66. The stock has a market cap of $2.19 billion, a P/E ratio of 11.51 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.04. The firm had revenue of $123.70 million during the quarter, compared to the consensus estimate of $120.07 million. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. On average, research analysts forecast that Sixth Street Specialty Lending will post 2.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its stake in Sixth Street Specialty Lending by 4.5% in the 4th quarter. Van ECK Associates Corp now owns 2,393,069 shares of the financial services provider’s stock worth $50,972,000 after purchasing an additional 103,634 shares during the period. Progeny 3 Inc. raised its stake in shares of Sixth Street Specialty Lending by 6.1% in the fourth quarter. Progeny 3 Inc. now owns 2,390,680 shares of the financial services provider’s stock worth $50,921,000 after acquiring an additional 137,906 shares during the last quarter. Sound Income Strategies LLC lifted its stake in Sixth Street Specialty Lending by 5.6% in the fourth quarter. Sound Income Strategies LLC now owns 2,305,372 shares of the financial services provider’s stock valued at $49,104,000 after buying an additional 122,312 shares during the period. Burgundy Asset Management Ltd. boosted 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 buying an additional 37,442 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in Sixth Street Specialty Lending by 2.9% in the 4th quarter. Wells Fargo & Company MN now owns 1,183,141 shares of the financial services provider’s stock worth $25,201,000 after purchasing an additional 33,026 shares during the period. 70.25% of the stock is owned by institutional investors and hedge funds.

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.