TPG Specialty Lending (TSLX) Downgraded by Wells Fargo & Co

TPG Specialty Lending (NYSE:TSLX) was downgraded by investment analysts at Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a research note issued to investors on Monday, May 6th, MarketBeat Ratings reports. They presently have a $20.50 price objective on the financial services provider’s stock, down from their previous price objective of $21.00. Wells Fargo & Co‘s price objective indicates a potential upside of 5.02% from the company’s previous close. The analysts noted that the move was a valuation call.

A number of other equities research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of TPG Specialty Lending from a “buy” rating to a “hold” rating in a research note on Tuesday, January 15th. National Securities reissued a “buy” rating and issued a $23.00 price target on shares of TPG Specialty Lending in a research note on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $21.57.

TSLX traded down $0.26 during trading on Monday, reaching $19.52. 242,768 shares of the company’s stock were exchanged, compared to its average volume of 254,994. TPG Specialty Lending has a 1 year low of $17.48 and a 1 year high of $21.24. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $1.30 billion, a PE ratio of 8.68, a P/E/G ratio of 10.67 and a beta of 0.72.

TPG Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). TPG Specialty Lending had a return on equity of 13.05% and a net margin of 48.29%. The business had revenue of $52.49 million for the quarter, compared to analysts’ expectations of $56.40 million. During the same period in the prior year, the business posted $0.56 earnings per share. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. As a group, analysts predict that TPG Specialty Lending will post 1.86 EPS for the current fiscal year.

In related news, Director Hurley Doddy purchased 2,100 shares of TPG Specialty Lending stock in a transaction dated Friday, May 10th. The shares were acquired at an average price of $19.80 per share, for a total transaction of $41,580.00. Following the acquisition, the director now directly owns 3,900 shares in the company, valued at $77,220. The purchase was disclosed in a filing with the SEC, which is available through this link. 4.40% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of TSLX. Mirae Asset Global Investments Co. Ltd. grew its position in shares of TPG Specialty Lending by 3.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,926 shares of the financial services provider’s stock worth $252,000 after buying an additional 502 shares in the last quarter. Allen Investment Management LLC grew its position in shares of TPG Specialty Lending by 1.8% during the first quarter. Allen Investment Management LLC now owns 30,935 shares of the financial services provider’s stock worth $619,000 after buying an additional 550 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of TPG Specialty Lending by 1.0% during the first quarter. Janney Montgomery Scott LLC now owns 60,908 shares of the financial services provider’s stock worth $1,218,000 after buying an additional 594 shares in the last quarter. Financial Advocates Investment Management grew its position in shares of TPG Specialty Lending by 3.6% during the first quarter. Financial Advocates Investment Management now owns 23,960 shares of the financial services provider’s stock worth $480,000 after buying an additional 835 shares in the last quarter. Finally, Synovus Financial Corp grew its position in shares of TPG Specialty Lending by 27.0% during the first quarter. Synovus Financial Corp now owns 3,958 shares of the financial services provider’s stock worth $79,000 after buying an additional 842 shares in the last quarter. Hedge funds and other institutional investors own 60.68% of the company’s stock.

About TPG Specialty Lending

TPG Specialty Lending, Inc is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), mezzanine debt, 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.

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Analyst Recommendations for TPG Specialty Lending (NYSE:TSLX)

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