Reformation's (REF) Buy Rating Reiterated at Guggenheim

Key Points

• Guggenheim reaffirmed its Buy rating on Reformation and maintained a $20 price target, implying approximately 48% upside from the stock’s $13.49 opening price. Analysts overall rate the shares “Moderate Buy,” with a consensus target of $19.25.
• Reformation exceeded quarterly expectations, reporting $0.23 EPS versus $0.20 expected and $155.23 million in revenue, up 24.1% year over year and slightly above estimates.
• Insiders sold 4.4 million shares worth approximately $61.4 million over the past three months, including substantial sales by major shareholder Scsp Refo and director Yael Aflalo.

Reformation (NYSE:REF - Get Free Report)'s stock had its "buy" rating reaffirmed by Guggenheim in a report released on Friday, Benzinga reports. They presently have a $20.00 price target on the stock. Guggenheim's price objective indicates a potential upside of 48.26% from the company's current price.

REF has been the subject of a number of other research reports. Royal Bank Of Canada began coverage on Reformation in a research note on Monday, August 24th. They set an "outperform" rating and a $18.00 price target for the company. JPMorgan Chase & Co. initiated coverage on Reformation in a report on Monday, August 24th. They issued an "overweight" rating and a $21.00 target price on the stock. BTIG Research reaffirmed a "buy" rating on shares of Reformation in a research report on Friday. Telsey Advisory Group initiated coverage on Reformation in a report on Monday, August 24th. They set an "outperform" rating and a $20.00 price target for the company. Finally, Wall Street Zen raised Reformation to a "hold" rating in a research report on Saturday, August 8th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.25.

Reformation Trading Up 2.6%

REF opened at $13.49 on Friday. Reformation has a 1-year low of $12.83 and a 1-year high of $17.26.

Reformation (NYSE:REF - Get Free Report) last issued its quarterly earnings data on Thursday, September 10th. The company reported $0.23 earnings per share (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 analyst estimates of $154.61 million. The company's quarterly revenue was up 24.1% compared to the same quarter last year. Equities research analysts forecast that Reformation will post 0.14 earnings per share for the current year.

Insider Buying and Selling at Reformation

In other Reformation news, major shareholder Scsp Refo sold 2,987,199 shares of the business'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 directly owned 29,091,749 shares in the company, valued at $405,829,898.55. The trade was a 9.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Yael Aflalo sold 1,204,029 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $13.95, for a total value of $16,796,204.55. Following the transaction, the director owned 11,725,803 shares of the company's stock, valued at $163,574,951.85. The trade was a 9.31% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 4,401,122 shares of company stock worth $61,395,652.

Reformation Company Profile

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

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