Sixth Street Specialty Lending (NYSE:TSLX) Receives “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 research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $23.00 price objective on the financial services provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 12.52% from the stock’s current price.

Several other research firms have also commented on TSLX. Wells Fargo & Company cut their target price on shares of 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. Keefe, Bruyette & Woods decreased their target price on 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. Finally, 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. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $22.00.

Sixth Street Specialty Lending Price Performance

TSLX traded up $0.06 during trading on Tuesday, reaching $20.44. The stock had a trading volume of 67,137 shares, compared to its average volume of 350,483. The stock has a 50 day moving average of $20.64 and a two-hundred day moving average of $21.06. The company has a quick ratio of 1.90, a current ratio of 2.50 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 9.91 and a beta of 1.06. Sixth Street Specialty Lending has a 1-year low of $19.50 and a 1-year high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. The business had revenue of $119.22 million during the quarter, compared to analysts’ expectations of $119.85 million. During the same quarter last year, the business posted $0.60 earnings per share. As a group, equities analysts anticipate that Sixth Street Specialty Lending will post 2.31 EPS for the current fiscal year.

Institutional Trading of Sixth Street Specialty Lending

A number of institutional investors have recently added to or reduced their stakes in TSLX. Van ECK Associates Corp boosted its position in Sixth Street Specialty Lending by 6.6% during the third quarter. Van ECK Associates Corp now owns 2,289,435 shares of the financial services provider’s stock worth $47,117,000 after purchasing an additional 141,463 shares during the period. Sound Income Strategies LLC grew its stake in Sixth Street Specialty Lending by 2.5% in the 3rd quarter. Sound Income Strategies LLC now owns 2,183,060 shares of the financial services provider’s stock valued at $44,818,000 after buying an additional 53,961 shares during the last quarter. Burgundy Asset Management Ltd. raised its holdings in Sixth Street Specialty Lending by 1.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,105,853 shares of the financial services provider’s stock worth $44,960,000 after acquiring an additional 29,034 shares during the period. Progeny 3 Inc. lifted its position in Sixth Street Specialty Lending by 2.6% during the 2nd quarter. Progeny 3 Inc. now owns 2,036,778 shares of the financial services provider’s stock worth $43,485,000 after acquiring an additional 50,908 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its holdings in Sixth Street Specialty Lending by 6.6% during the second quarter. 1832 Asset Management L.P. now owns 1,279,000 shares of the financial services provider’s stock valued at $27,307,000 after acquiring an additional 79,000 shares during the period. 70.25% of the stock is currently owned by institutional investors and hedge funds.

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.