TPG Specialty Lending Inc. (NYSE:TSLX) was downgraded by National Securities from a “buy” rating to a “neutral” rating in a research report issued on Monday. They presently have a $19.00 target price on the stock. National Securities’ price target indicates a potential upside of 1.50% from the company’s current price.
The analysts wrote, “Downgrade: We are downgrading TPG Specialty Lending (TSLX) to NEUTRAL from BUY and maintaining our $19 price target. This downgrade is solely a result of valuation and our investment thesis remains in-tact. We are maintaining our 2016 NII/share estimate of $1.82 and our 2017 NII/share estimate of $1.85. Our $19 price target implies an estimated 2017 P/NII of 10.3x, dividend yield of 8.2%, and P/NAV of 1.16x compared to the BDC sector averages of 9.9x, 9.4%, and 0.90x, respectively.”
A number of other equities research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of TPG Specialty Lending from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Saturday, August 6th. TheStreet upgraded shares of TPG Specialty Lending from a “hold” rating to a “buy” rating in a research report on Monday, November 21st. JMP Securities reiterated a “buy” rating on shares of TPG Specialty Lending in a research report on Wednesday, November 9th. Barclays PLC reiterated a “hold” rating and set a $18.00 target price on shares of TPG Specialty Lending in a research report on Wednesday, November 9th. Finally, Citigroup Inc. increased their target price on shares of TPG Specialty Lending from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, August 12th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $18.57.
Shares of TPG Specialty Lending (NYSE:TSLX) opened at 18.72 on Monday. The company’s 50-day moving average is $17.94 and its 200 day moving average is $17.50. TPG Specialty Lending has a 1-year low of $15.11 and a 1-year high of $18.79.
TPG Specialty Lending (NYSE:TSLX) last released its quarterly earnings data on Monday, November 7th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.08. The company earned $53.92 million during the quarter, compared to the consensus estimate of $46.54 million. TPG Specialty Lending had a net margin of 53.66% and a return on equity of 11.50%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the firm earned $0.48 EPS. On average, equities research analysts anticipate that TPG Specialty Lending will post $1.79 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Saturday, December 31st will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 8.33%. The ex-dividend date of this dividend is Wednesday, December 28th. TPG Specialty Lending’s dividend payout ratio is 91.77%.
In other TPG Specialty Lending news, VP David Stiepleman purchased 5,535 shares of the stock in a transaction dated Monday, November 14th. The stock was bought at an average price of $17.99 per share, for a total transaction of $99,574.65. Following the transaction, the vice president now directly owns 5,535 shares in the company, valued at $99,574.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.90% of the company’s stock.
Several large investors have recently modified their holdings of the company. GAM Holding AG acquired a new stake in shares of TPG Specialty Lending during the third quarter valued at approximately $114,000. GSA Capital Partners LLP purchased a new position in TPG Specialty Lending during the second quarter valued at $185,000. Nomura Holdings Inc. purchased a new position in TPG Specialty Lending during the second quarter valued at $244,000. PineBridge Investments L.P. raised its position in TPG Specialty Lending by 188.7% in the second quarter. PineBridge Investments L.P. now owns 15,558 shares of the company’s stock valued at $258,000 after buying an additional 10,169 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in TPG Specialty Lending during the third quarter valued at $288,000. Institutional investors own 62.61% of the company’s stock.
TPG Specialty Lending Company Profile