Wells Fargo & Company Has Lowered Expectations for Sixth Street Specialty Lending (NYSE:TSLX) Stock Price

Sixth Street Specialty Lending (NYSE:TSLX) had its price objective lowered by stock analysts at Wells Fargo & Company from $24.00 to $22.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 1.72% from the company’s previous close.

TSLX has been the subject of a number of other reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sixth Street Specialty Lending in a research report on Wednesday, October 8th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $24.00 price target on shares of Sixth Street Specialty Lending in a report on Wednesday, October 1st. JMP Securities lifted their price objective on shares of Sixth Street Specialty Lending from $24.00 to $25.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 6th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Sixth Street Specialty Lending from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.63.

Sixth Street Specialty Lending Trading Down 1.0%

NYSE:TSLX traded down $0.22 on Thursday, hitting $21.63. 125,499 shares of the stock were exchanged, compared to its average volume of 476,716. The stock has a fifty day moving average of $22.91 and a 200-day moving average of $23.09. The stock has a market cap of $2.04 billion, a PE ratio of 10.76 and a beta of 0.84. The company has a current ratio of 3.79, a quick ratio of 3.79 and a debt-to-equity ratio of 1.07. Sixth Street Specialty Lending has a fifty-two week low of $18.58 and a fifty-two week high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its earnings results on Tuesday, November 4th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 39.56%.The business had revenue of $109.40 million during the quarter, compared to analysts’ expectations of $108.35 million. During the same quarter in the previous year, the business earned $0.57 EPS. As a group, equities analysts expect that Sixth Street Specialty Lending will post 2.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TSLX. MTM Investment Management LLC acquired a new stake in shares of Sixth Street Specialty Lending during the 2nd quarter valued at approximately $49,000. First Horizon Advisors Inc. increased its stake in Sixth Street Specialty Lending by 74.0% during the second quarter. First Horizon Advisors Inc. now owns 4,123 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 1,753 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Sixth Street Specialty Lending during the third quarter worth $98,000. MAI Capital Management raised its holdings in shares of Sixth Street Specialty Lending by 83.5% during the second quarter. MAI Capital Management now owns 4,264 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 1,940 shares during the period. Finally, SVB Wealth LLC bought a new position in shares of Sixth Street Specialty Lending in the 1st quarter worth about $107,000. Institutional investors own 70.25% of the company’s stock.

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.