Royal Bank Of Canada Has Lowered Expectations for Sixth Street Specialty Lending (NYSE:TSLX) Stock Price

Sixth Street Specialty Lending (NYSE:TSLX) had its target price lowered by equities research analysts at Royal Bank Of Canada from $25.00 to $24.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 14.89% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $24.00 target price on shares of Sixth Street Specialty Lending in a report on Wednesday, October 1st. JMP Securities upped their price target 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. Wells Fargo & Company cut their target price on Sixth Street Specialty Lending from $24.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sixth Street Specialty Lending in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods decreased their target price on Sixth Street Specialty Lending from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Sixth Street Specialty Lending currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.50.

Sixth Street Specialty Lending Stock Performance

NYSE TSLX traded up $0.01 during trading hours on Wednesday, hitting $20.89. 100,755 shares of the company’s stock traded hands, compared to its average volume of 480,622. Sixth Street Specialty Lending has a 52 week low of $18.58 and a 52 week high of $25.17. The firm has a market capitalization of $1.97 billion, a P/E ratio of 10.38 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. The business’s fifty day moving average price is $22.30 and its two-hundred day moving average price is $23.13.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Advisory Services Network LLC purchased a new stake in Sixth Street Specialty Lending during the third quarter valued at approximately $75,000. NewEdge Advisors LLC increased its position in shares of Sixth Street Specialty Lending by 647.2% during the third quarter. NewEdge Advisors LLC now owns 12,493 shares of the financial services provider’s stock worth $286,000 after purchasing an additional 10,821 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Sixth Street Specialty Lending by 16.7% during the third quarter. CANADA LIFE ASSURANCE Co now owns 158,713 shares of the financial services provider’s stock worth $3,620,000 after purchasing an additional 22,659 shares in the last quarter. Caxton Associates LLP purchased a new stake in shares of Sixth Street Specialty Lending during the 3rd quarter valued at $268,000. Finally, Qube Research & Technologies Ltd boosted its position in shares of Sixth Street Specialty Lending by 41.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 72,070 shares of the financial services provider’s stock worth $1,648,000 after purchasing an additional 21,296 shares in the last quarter. Hedge funds and other 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.