Keefe, Bruyette & Woods Trims Sixth Street Specialty Lending (NYSE:TSLX) Target Price to $23.00

Sixth Street Specialty Lending (NYSE:TSLX) had its target price reduced by Keefe, Bruyette & Woods from $23.50 to $23.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 9.32% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Royal Bank of Canada boosted their target price on shares of Sixth Street Specialty Lending from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Truist Financial boosted their price objective on shares of Sixth Street Specialty Lending from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Wells Fargo & Company raised their target price on Sixth Street Specialty Lending from $21.00 to $22.50 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $22.50 target price on shares of Sixth Street Specialty Lending in a report on Tuesday, March 26th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.67.

Sixth Street Specialty Lending Stock Performance

NYSE TSLX opened at $21.04 on Monday. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 8.48 and a beta of 1.03. Sixth Street Specialty Lending has a twelve month low of $17.31 and a twelve month high of $22.35. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 1.14. The business’s fifty day moving average is $21.08 and its 200 day moving average is $21.15.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Friday, February 16th. The financial services provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The firm had revenue of $119.50 million for the quarter, compared to analyst estimates of $115.18 million. Sixth Street Specialty Lending had a return on equity of 13.74% and a net margin of 47.16%. During the same period last year, the firm posted $0.65 earnings per share. As a group, sell-side analysts expect that Sixth Street Specialty Lending will post 2.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Melia Wealth LLC bought a new stake in Sixth Street Specialty Lending in the fourth quarter valued at $15,144,000. MGO One Seven LLC increased its position in Sixth Street Specialty Lending by 3,380.9% in the 4th quarter. MGO One Seven LLC now owns 553,876 shares of the financial services provider’s stock valued at $11,964,000 after buying an additional 537,964 shares in the last quarter. Allen Investment Management LLC raised its stake in Sixth Street Specialty Lending by 956.1% during the 3rd quarter. Allen Investment Management LLC now owns 340,760 shares of the financial services provider’s stock worth $6,965,000 after buying an additional 308,493 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in Sixth Street Specialty Lending by 103,655.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 294,666 shares of the financial services provider’s stock worth $6,365,000 after acquiring an additional 294,382 shares in the last quarter. Finally, Confluence Investment Management LLC acquired a new stake in Sixth Street Specialty Lending in the first quarter valued at approximately $5,212,000. 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.