TPG Specialty Lending (TSLX) Stock Rating Lowered by Zacks Investment Research

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TPG Specialty Lending (NYSE:TSLX) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday.

According to Zacks, “TPG Specialty Lending, Inc. is a specialty finance company. It is focused on providing fully-underwritten capital solutions to middle market companies. The Company specializes in standalone first-lien loans, standalone second-lien loans, mezzanine loans, unitranche loans. TPG Specialty Lending, Inc. is based in Fort Worth, Texas. “

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. upgraded shares of TPG Specialty Lending from a “neutral” rating to an “overweight” rating and set a $18.50 price objective for the company in a report on Monday, July 23rd. ValuEngine cut shares of TPG Specialty Lending from a “hold” rating to a “sell” rating in a report on Monday, October 8th. SunTrust Banks restated a “buy” rating and issued a $22.00 price objective on shares of TPG Specialty Lending in a report on Friday, August 3rd. National Securities restated a “buy” rating and issued a $21.00 price objective on shares of TPG Specialty Lending in a report on Monday, August 6th. Finally, Keefe, Bruyette & Woods set a $22.00 price target on shares of TPG Specialty Lending and gave the stock a “buy” rating in a report on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $21.29.

Shares of TPG Specialty Lending stock traded up $0.35 on Thursday, reaching $20.43. The company had a trading volume of 6,292 shares, compared to its average volume of 274,092. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 10.22, a price-to-earnings-growth ratio of 4.89 and a beta of 0.66. TPG Specialty Lending has a 52-week low of $17.00 and a 52-week high of $20.94. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.55 and a current ratio of 0.55.

TPG Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Wednesday, August 1st. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.09. The business had revenue of $66.40 million for the quarter, compared to the consensus estimate of $58.63 million. TPG Specialty Lending had a net margin of 53.60% and a return on equity of 12.40%. During the same period in the previous year, the firm earned $0.57 EPS. Equities analysts expect that TPG Specialty Lending will post 2.04 earnings per share for the current year.

In other news, Director Richard A. Higginbotham purchased 2,000 shares of the stock in a transaction on Friday, August 24th. The stock was bought at an average price of $19.73 per share, for a total transaction of $39,460.00. Following the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $394,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.50% of the company’s stock.

Several large investors have recently modified their holdings of the company. Allen Investment Management LLC raised its position in TPG Specialty Lending by 104.4% in the 2nd quarter. Allen Investment Management LLC now owns 46,502 shares of the financial services provider’s stock valued at $834,000 after purchasing an additional 23,748 shares during the last quarter. Principal Financial Group Inc. raised its position in TPG Specialty Lending by 13.6% in the 1st quarter. Principal Financial Group Inc. now owns 53,353 shares of the financial services provider’s stock valued at $953,000 after purchasing an additional 6,405 shares during the last quarter. Progeny 3 Inc. raised its position in TPG Specialty Lending by 30.0% during the 2nd quarter. Progeny 3 Inc. now owns 520,020 shares of the financial services provider’s stock worth $9,329,000 after buying an additional 119,993 shares during the last quarter. Acadian Asset Management LLC purchased a new position in TPG Specialty Lending during the 2nd quarter worth $121,000. Finally, Cliffwater LLC raised its position in TPG Specialty Lending by 2.9% during the 2nd quarter. Cliffwater LLC now owns 229,730 shares of the financial services provider’s stock worth $4,121,000 after buying an additional 6,574 shares during the last quarter. Institutional investors and hedge funds own 60.76% 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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