Truist Financial Boosts Sixth Street Specialty Lending (NYSE:TSLX) Price Target to $24.00

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) had its target price increased by investment analysts at Truist Financial from $23.00 to $24.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the financial services provider's stock. Truist Financial's target price indicates a potential upside of 2.15% from the company's current price.

A number of other research analysts have also weighed in on TSLX. LADENBURG THALM/SH SH lowered Sixth Street Specialty Lending from a "buy" rating to a "neutral" rating in a research report on Friday, February 14th. Royal Bank of Canada restated an "outperform" rating and set a $23.00 price objective on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Wells Fargo & Company raised their price objective on Sixth Street Specialty Lending from $21.00 to $23.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. raised their price objective on Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods raised their price objective on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $22.79.

Sixth Street Specialty Lending Price Performance

TSLX stock traded up $0.43 during trading on Tuesday, reaching $23.50. The company's stock had a trading volume of 2,302,990 shares, compared to its average volume of 365,695. Sixth Street Specialty Lending has a 1 year low of $19.50 and a 1 year high of $23.66. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $2.20 billion, a P/E ratio of 11.57 and a beta of 1.06. The company's fifty day moving average is $21.70 and its 200-day moving average is $21.08.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.04. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. The business had revenue of $123.70 million during the quarter, compared to analyst estimates of $120.07 million. On average, research analysts expect that Sixth Street Specialty Lending will post 2.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TSLX. Raymond James Financial Inc. purchased a new position in Sixth Street Specialty Lending in the fourth quarter worth about $17,488,000. Columbus Macro LLC bought a new stake in Sixth Street Specialty Lending in the fourth quarter worth about $7,669,000. Progeny 3 Inc. lifted its stake in Sixth Street Specialty Lending by 10.6% in the third quarter. Progeny 3 Inc. now owns 2,252,774 shares of the financial services provider's stock worth $46,249,000 after purchasing an additional 215,996 shares during the last quarter. Parkwood LLC bought a new stake in Sixth Street Specialty Lending in the fourth quarter worth about $3,937,000. Finally, JPMorgan Chase & Co. lifted its stake in Sixth Street Specialty Lending by 16.1% in the third 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. 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.