TPG Specialty Lending, Inc. (NYSE:TSLX)‘s stock had its “neutral” rating reaffirmed by stock analysts at National Securities in a report released on Monday. They currently have a $19.00 target price on the financial services provider’s stock. National Securities’ target price indicates a potential downside of 10.88% from the company’s previous close.

The analysts wrote, “• TPG reported NII/share of $0.57 compared to our estimate of $0.44 and consensus of $0.46/share. There were significant repayments during the quarter of $277.0 million and a significant amount of prepayment activity, largely driven by Qlik Technologies and Payless. There was $0.26/share of prepayment fees and OID acceleration combined during the quarter.

• TPG’s asset quality remains very strong, with the company finished 2Q17 with no non-accruals. Mississippi Resources was on non-accrual as of 3/31/17 but was restructured and has seen improved performance since the restructuring. NAV/share increased modestly Q/Q, driving a 12.4% annualized economic return for the quarter.

• TSLX is well positioned to grow its portfolio despite challenging loan market. The company’s ability to understand and participate in complex situations, co-invest and take down larger bite sizes and provide certainty of closing, and utilize ABL (asset-based lending) as well as cash flow lending all bode well for TPG’s ability to drive good volume while maintaining its stringent underwriting criteria and preserving credit quality going forward.

• We are revising our 2017 NII/share estimate to $1.94 from $1.83 and are maintaining our 2018 NII/share estimate of $1.85.”

A number of other research firms also recently issued reports on TSLX. BidaskClub downgraded TPG Specialty Lending from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 20th. Zacks Investment Research raised TPG Specialty Lending from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Tuesday, July 25th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $19.80.

Shares of TPG Specialty Lending (TSLX) opened at 21.32 on Monday. TPG Specialty Lending has a 1-year low of $17.00 and a 1-year high of $21.57. The stock’s 50 day moving average price is $20.53 and its 200 day moving average price is $20.14.

TPG Specialty Lending (NYSE:TSLX) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.11. The business had revenue of $58.82 million for the quarter, compared to the consensus estimate of $49.41 million. TPG Specialty Lending had a return on equity of 12.68% and a net margin of 60.77%. TPG Specialty Lending’s quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 earnings per share. On average, analysts expect that TPG Specialty Lending will post $1.88 earnings per share for the current year.

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A number of institutional investors have recently bought and sold shares of TSLX. Ameriprise Financial Inc. acquired a new position in TPG Specialty Lending during the first quarter worth approximately $201,000. Koshinski Asset Management Inc. acquired a new position in TPG Specialty Lending during the first quarter worth approximately $215,000. Dynamic Technology Lab Private Ltd acquired a new position in TPG Specialty Lending during the first quarter worth approximately $233,000. Sigma Planning Corp acquired a new position in TPG Specialty Lending during the first quarter worth approximately $261,000. Finally, M&T Bank Corp acquired a new position in TPG Specialty Lending during the first quarter worth approximately $280,000. Institutional investors and hedge funds own 64.35% of the company’s stock.

TPG Specialty Lending Company Profile

TPG Specialty Lending, Inc is an externally managed, closed-end, non-diversified management investment company. The Company is a specialty finance company focused on lending to middle-market companies. It seeks to generate current income primarily in the United States-domiciled middle-market companies through direct originations of senior secured loans and originations of mezzanine and unsecured loans and investments in corporate bonds and equity securities.

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