JPMorgan Chase & Co. Lowers Sixth Street Specialty Lending (NYSE:TSLX) Price Target to $21.00

Sixth Street Specialty Lending (NYSE:TSLX) had its price objective decreased by research analysts at JPMorgan Chase & Co. from $23.00 to $21.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 11.20% from the stock’s previous close.

TSLX has been the topic of several other research reports. Royal Bank Of Canada lowered their price target on Sixth Street Specialty Lending from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. Keefe, Bruyette & Woods decreased their price target on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday. Wells Fargo & Company lowered their price target on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday. Weiss Ratings reissued a “buy (b-)” rating on shares of Sixth Street Specialty Lending in a research report on Wednesday, December 24th. Finally, Truist Financial lowered their target price on Sixth Street Specialty Lending from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Sixth Street Specialty Lending has a consensus rating of “Buy” and a consensus target price of $22.50.

Sixth Street Specialty Lending Stock Down 1.8%

TSLX stock traded down $0.35 during midday trading on Tuesday, reaching $18.89. The company had a trading volume of 1,352,264 shares, compared to its average volume of 642,436. The company has a 50 day moving average of $21.57 and a two-hundred day moving average of $22.36. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 1.08. Sixth Street Specialty Lending has a 1 year low of $18.51 and a 1 year high of $25.17. The company has a market capitalization of $1.79 billion, a P/E ratio of 10.43 and a beta of 0.70.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its earnings results on Thursday, February 12th. The financial services provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. Sixth Street Specialty Lending had a net margin of 37.99% and a return on equity of 12.71%. The company had revenue of $108.25 million during the quarter, compared to the consensus estimate of $107.11 million. During the same period in the previous year, the firm posted $0.61 earnings per share. On average, equities research analysts expect that Sixth Street Specialty Lending will post 2.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its position in Sixth Street Specialty Lending by 18.0% during the third quarter. Van ECK Associates Corp now owns 2,529,187 shares of the financial services provider’s stock valued at $57,817,000 after acquiring an additional 385,398 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in Sixth Street Specialty Lending by 4.5% in the fourth quarter. Sound Income Strategies LLC now owns 2,511,115 shares of the financial services provider’s stock valued at $55,998,000 after acquiring an additional 108,708 shares in the last quarter. Progeny 3 Inc. grew its position in shares of Sixth Street Specialty Lending by 1.0% in the 2nd quarter. Progeny 3 Inc. now owns 2,476,398 shares of the financial services provider’s stock worth $58,963,000 after buying an additional 23,451 shares during the period. Burgundy Asset Management Ltd. increased its holdings in shares of Sixth Street Specialty Lending by 1.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,378,968 shares of the financial services provider’s stock worth $56,643,000 after purchasing an additional 31,922 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in shares of Sixth Street Specialty Lending by 419.5% in the fourth quarter. Bank of Montreal Can now owns 2,284,920 shares of the financial services provider’s stock worth $49,628,000 after acquiring an additional 1,845,088 shares during the period. Institutional investors own 70.25% of the company’s stock.

About Sixth Street Specialty Lending

Sixth Street Specialty Lending Inc (NYSE: TSLX) is a closed-end, externally managed business development company that provides flexible debt financing solutions to middle-market companies. The fund primarily targets senior secured loans, unitranche facilities, mezzanine debt, second-lien financings and equity co-investment opportunities. By structuring tailored capital solutions, Sixth Street Specialty Lending seeks to support growth initiatives, recapitalizations and refinancings across a diverse set of industries, including technology, healthcare and business services.

As an affiliate of Sixth Street Partners, a global alternative investment firm, the company leverages the broader platform’s credit research, operational expertise and industry relationships.