Reformation (NYSE:REF) Given New $21.00 Price Target at BTIG Research

Key Points

• BTIG Research raised its price target on Reformation from $20 to $21 and maintained a Buy rating, implying 24.63% upside from the stock’s current price.
• Analyst sentiment is broadly positive: eight analysts rate the stock Buy, two Hold and one Sell, with a consensus rating of Moderate Buy and an average price target of $19.38.
• Reformation’s latest quarter showed mixed results: revenue rose 19.1% year over year to $173.57 million, beating expectations, while EPS of -$0.02 missed the $0.02 consensus estimate.

Reformation (NYSE:REF - Get Free Report) had its target price boosted by research analysts at BTIG Research from $20.00 to $21.00 in a note issued to investors on Friday, MarketBeat reports. The firm presently has a "buy" rating on the stock. BTIG Research's target price indicates a potential upside of 24.63% from the stock's current price.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. started coverage on shares of Reformation in a report on Monday, August 24th. They issued an "overweight" rating and a $21.00 price target for the company. Morgan Stanley initiated coverage on shares of Reformation in a research report on Monday, August 24th. They issued an "equal weight" rating and a $16.00 price target for the company. Royal Bank Of Canada reiterated an "outperform" rating and set a $18.00 price objective on shares of Reformation in a research note on Friday, September 11th. Zacks Research raised shares of Reformation to a "hold" rating in a report on Tuesday, August 25th. Finally, Wall Street Zen raised shares of Reformation to a "hold" rating in a research note on Saturday, October 3rd. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $19.38.

Reformation Stock Performance

Shares of NYSE:REF opened at $16.85 on Friday. The stock has a market capitalization of $995.48 million and a price-to-earnings ratio of -1,685.00. The stock's 50 day moving average is $14.31. Reformation has a one year low of $11.85 and a one year high of $18.44. The company has a current ratio of 1.58, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64.

Reformation (NYSE:REF - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.04). The company had revenue of $173.57 million during the quarter, compared to analysts' expectations of $170.48 million. The firm's revenue for the quarter was up 19.1% on a year-over-year basis. Equities research analysts predict that Reformation will post 0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Yael Aflalo sold 60,298 shares of the company's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $13.95, for a total transaction of $841,157.10. Following the completion of the sale, the director directly owned 11,665,505 shares in the company, valued at $162,733,794.75. This represents a 0.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Scsp Refo sold 149,596 shares of the firm's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $13.95, for a total value of $2,086,864.20. Following the sale, the insider directly owned 28,942,153 shares in the company, valued at approximately $403,743,034.35. The trade was a 0.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

About Reformation

Reformation is a fashion company that designs and sells women's clothing, footwear, accessories and related products. Its assortment includes dresses, tops, denim, knitwear, outerwear, shoes, handbags and wedding apparel, with products offered through its direct-to-consumer website and retail stores.

Founded in 2009 by Yael Aflalo, Reformation built its brand around combining contemporary style with sustainability-focused production practices. The company has emphasized the use of lower-impact materials, reuse of vintage garments and deadstock fabrics, and efforts to reduce the environmental impact of its operations and supply chain.

Reformation serves customers in the United States and internationally through its online platform and a network of retail locations.

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