Wells Fargo & Company Issues Positive Forecast for Sixth Street Specialty Lending (NYSE:TSLX) Stock Price

Sixth Street Specialty Lending (NYSE:TSLX) had its target price hoisted by equities research analysts at Wells Fargo & Company from $21.00 to $23.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 3.51% from the stock’s previous close.

A number of other brokerages also recently weighed in on TSLX. Keefe, Bruyette & Woods decreased their price objective on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a research report on Thursday, November 7th. LADENBURG THALM/SH SH upgraded Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price target on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $22.33.

Sixth Street Specialty Lending Stock Performance

Sixth Street Specialty Lending stock traded up $0.11 during midday trading on Wednesday, hitting $22.22. 53,953 shares of the company were exchanged, compared to its average volume of 266,070. Sixth Street Specialty Lending has a fifty-two week low of $19.50 and a fifty-two week high of $22.28. The firm has a market capitalization of $2.07 billion, a PE ratio of 10.79 and a beta of 1.05. The business has a fifty day simple moving average of $21.27 and a two-hundred day simple moving average of $20.92. 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 (NYSE:TSLX) last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 EPS 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 business had revenue of $119.22 million for the quarter, compared to analysts’ expectations of $119.85 million. During the same quarter last year, the company earned $0.60 EPS. On average, sell-side analysts forecast that Sixth Street Specialty Lending will post 2.31 earnings per share for the current year.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Several large investors have recently bought and sold shares of TSLX. Private Advisor Group LLC lifted its stake in shares of 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 buying an additional 5,398 shares in the last quarter. Legacy Capital Wealth Partners LLC lifted its stake in 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 purchasing an additional 71,849 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Sixth Street Specialty Lending by 16.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,175,388 shares of the financial services provider’s stock worth $24,131,000 after purchasing an additional 162,810 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Sixth Street Specialty Lending by 6.6% in the third quarter. Van ECK Associates Corp now owns 2,289,435 shares of the financial services provider’s stock valued at $47,117,000 after purchasing an additional 141,463 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Sixth Street Specialty Lending by 106.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 51,184 shares of the financial services provider’s stock valued at $1,051,000 after purchasing an additional 26,349 shares in the last quarter. 70.25% of the stock is currently 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.