Reformation (NYSE:REF) Stock Moved Up to "Hold" by Wall Street Zen

Key Points

• Wall Street Zen upgraded Reformation to “Hold,” while broader analyst sentiment remains “Moderate Buy,” with eight Buy ratings, two Holds and a consensus price target of $19.25.
• Reformation’s latest results exceeded expectations, with quarterly EPS of $0.23 versus $0.20 expected and revenue of $155.23 million, up 24.1% year over year.
• Insiders sold 4.4 million shares worth approximately $61.4 million over the past 90 days, including large sales by director Yael Aflalo and major shareholder Scsp Refo.

Reformation (NYSE:REF - Get Free Report) was upgraded by Wall Street Zen to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other equities analysts have also issued reports on the stock. Robert W. Baird started coverage on shares of Reformation in a report on Monday, August 24th. They set an "outperform" rating and a $19.00 price objective on the stock. Zacks Research upgraded Reformation to a "hold" rating in a report on Tuesday, August 25th. Telsey Advisory Group began coverage on Reformation in a research report on Monday, August 24th. They set an "outperform" rating and a $20.00 target price on the stock. Citigroup assumed coverage on Reformation in a research note on Monday, August 24th. They set a "buy" rating and a $20.00 price objective for the company. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $18.00 target price on shares of Reformation in a research note on Friday, September 11th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Reformation has an average rating of "Moderate Buy" and a consensus price target of $19.25.

Reformation Stock Up 2.8%

NYSE:REF opened at $13.05 on Friday. Reformation has a 1-year low of $11.85 and a 1-year high of $17.26. The business has a 50-day simple moving average of $14.41.

Reformation (NYSE:REF - Get Free Report) last posted its earnings results on Thursday, September 10th. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.03. The business had revenue of $155.23 million for the quarter, compared to analysts' expectations of $154.61 million. Reformation's revenue for the quarter was up 24.1% on a year-over-year basis. Analysts predict that Reformation will post 0.17 earnings per share for the current fiscal year.

Insider Activity at Reformation

In related news, Director Yael Aflalo sold 1,204,029 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $13.95, for a total value of $16,796,204.55. Following the completion of the transaction, the director directly owned 11,725,803 shares of the company's stock, valued at $163,574,951.85. This trade represents a 9.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Scsp Refo sold 2,987,199 shares of Reformation stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $13.95, for a total transaction of $41,671,426.05. Following the completion of the sale, the insider owned 29,091,749 shares of the company's stock, valued at $405,829,898.55. This trade represents a 9.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 4,401,122 shares of company stock valued at $61,395,652 over the last ninety days.

Reformation Company Profile

Reformation, Inc is a fashion company that designs, manufactures and sells women's clothing, footwear, accessories and bridal apparel. Its product assortment includes dresses, tops, denim, knitwear, outerwear and occasionwear, with an emphasis on contemporary styles and limited production runs.

The company markets itself as a sustainability-focused brand and incorporates practices such as using lower-impact materials, operating energy-efficient facilities and providing information about the environmental impact of selected products.

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