BTIG Research Initiates Coverage on Reformation (NYSE:REF)

Key Points

• BTIG Research initiated coverage of Reformation with a “buy” rating and a $20 price target, implying approximately 37.9% upside from the stock’s current price.
• Analyst sentiment is broadly positive: seven analysts rate Reformation a Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average price target of $18.60.
• Two major insiders sold shares: Director Yael Aflalo sold about 1.2 million shares, while shareholder Scsp Refo sold nearly 3.0 million shares; each reduced their holdings by 9.31%.

Equities research analysts at BTIG Research assumed coverage on shares of Reformation (NYSE:REF - Get Free Report) in a report released on Monday, MarketBeat reports. The brokerage set a "buy" rating and a $20.00 price target on the stock. BTIG Research's target price points to a potential upside of 37.93% from the stock's current price.

A number of other research firms also recently issued reports on REF. William Blair assumed coverage on Reformation in a research note on Monday. They set an "outperform" rating for the company. Robert W. Baird started coverage on Reformation in a research note on Monday. They issued an "outperform" rating and a $19.00 price objective for the company. Royal Bank Of Canada assumed coverage on Reformation in a report on Monday. They issued an "outperform" rating and a $18.00 target price on the stock. Morgan Stanley initiated coverage on Reformation in a report on Monday. They issued an "equal weight" rating and a $16.00 target price on the stock. Finally, Wall Street Zen raised Reformation to a "hold" rating in a research report on Saturday, August 8th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $18.60.

Reformation Stock Performance

NYSE:REF opened at $14.50 on Monday. Reformation has a one year low of $14.29 and a one year high of $17.26.

Insider Activity

In other Reformation news, Director Yael Aflalo sold 1,204,029 shares of the stock in a transaction dated 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 sale, the director owned 11,725,803 shares in the company, valued at approximately $163,574,951.85. This trade represents a 9.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 transaction, the insider directly owned 29,091,749 shares in the company, valued at approximately $405,829,898.55. This 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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