Reformation (NYSE:REF) Upgraded at Royal Bank Of Canada

Key Points

• Royal Bank of Canada upgraded Reformation to a “moderate buy” rating, while broader analyst coverage remains positive with a consensus “Buy” rating and an average price target of $19.25.
• Recent initiations from Citigroup, Telsey Advisory Group, JPMorgan, William Blair and Guggenheim assigned predominantly bullish ratings and price targets of $20 to $21.
• Reformation shares opened at $14.43, near their 52-week low of $14.20, as Director Yael Aflalo and major shareholder Scsp Refo each sold roughly 9.31% of their respective holdings at an average price of $13.95.

Reformation (NYSE:REF - Get Free Report) was upgraded by equities research analysts at Royal Bank Of Canada to a "moderate buy" rating in a report issued on Monday,Zacks.com reports.

Several other equities research analysts also recently commented on the company. Citigroup assumed coverage on Reformation in a report on Monday. They set a "buy" rating and a $20.00 price objective for the company. Telsey Advisory Group began coverage on shares of Reformation in a research note on Monday. They issued an "outperform" rating and a $20.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on shares of Reformation in a report on Monday. They set an "overweight" rating and a $21.00 price objective for the company. William Blair started coverage on shares of Reformation in a research report on Monday. They set an "outperform" rating for the company. Finally, Guggenheim initiated coverage on shares of Reformation in a report on Monday. They issued a "buy" rating and a $20.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Reformation has a consensus rating of "Buy" and an average target price of $19.25.

Reformation Price Performance

REF stock opened at $14.43 on Monday. Reformation has a fifty-two week low of $14.20 and a fifty-two week high of $17.26.

Insider Activity at Reformation

In related news, Director Yael Aflalo sold 1,204,029 shares of the company's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $13.95, for a total transaction of $16,796,204.55. Following the completion of the sale, the director owned 11,725,803 shares in the company, valued at approximately $163,574,951.85. This represents a 9.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Scsp Refo sold 2,987,199 shares of the company's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $13.95, for a total value of $41,671,426.05. Following 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 position. The SEC filing for this sale provides additional information.

Reformation Company Profile

Reformation Inc provide sustainable womenswear brand. Reformation Inc is based in LOS ANGELES.

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