Reformation Inc. (NYSE:REF) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analyst sentiment is moderately bullish: Eight of ten analysts rate Reformation a buy, while two recommend holding the stock. The average 12-month price target is $19.25 versus a recent price of $15.53.
• Reformation exceeded quarterly expectations, reporting $0.23 EPS versus the $0.20 consensus estimate and $155.23 million in revenue, up 24.1% year over year.
• Insiders have sold approximately 4.4 million shares worth $61.4 million over the past 90 days, including significant sales by major shareholder Scsp Refo and director Yael Aflalo.

Shares of Reformation Inc. (NYSE:REF - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the ten analysts that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $19.25.

REF has been the topic of several research reports. Citigroup assumed coverage on shares of Reformation in a report on Monday, August 24th. They issued a "buy" rating and a $20.00 price target on the stock. Royal Bank Of Canada restated an "outperform" rating and set a $18.00 price objective on shares of Reformation in a research note on Friday, September 11th. JPMorgan Chase & Co. initiated coverage on shares of Reformation in a report on Monday, August 24th. They issued an "overweight" rating and a $21.00 price objective on the stock. Wall Street Zen upgraded shares of Reformation to a "hold" rating in a research note on Saturday, August 8th. Finally, William Blair started coverage on shares of Reformation in a report on Monday, August 24th. They set an "outperform" rating for the company.

Reformation Stock Down 1.3%

Shares of REF opened at $15.53 on Friday. Reformation has a one year low of $12.83 and a one year high of $17.26.

Reformation (NYSE:REF - Get Free Report) last announced its quarterly earnings data on Thursday, September 10th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. The firm had revenue of $155.23 million during the quarter, compared to analysts' expectations of $154.61 million. The business's revenue for the quarter was up 24.1% compared to the same quarter last year. Research analysts forecast that Reformation will post 0.16 EPS for the current fiscal year.

Insider Activity

In other Reformation news, major shareholder Scsp Refo sold 149,596 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $13.95, for a total value of $2,086,864.20. Following the completion of the transaction, the insider directly owned 28,942,153 shares of the company's stock, valued at approximately $403,743,034.35. The trade was a 0.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Yael Aflalo sold 60,298 shares of the 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 sale, the director directly owned 11,665,505 shares in the company, valued at $162,733,794.75. This trade represents a 0.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 4,401,122 shares of company stock worth $61,395,652 over the last ninety days.

Reformation Company Profile

Reformation, Inc is a fashion company that designs and sells women's clothing, footwear and accessories under the Reformation brand. Its product range includes dresses, tops, denim, knitwear, outerwear, swimwear, bridal apparel and related accessories, with collections marketed around contemporary style and more sustainable production practices.

The company sells its products through its e-commerce platform and a network of retail stores, serving customers in the United States and select international markets.

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