Reformation (NYSE:REF) Stock Price Up 9% - Time to Buy?

Key Points

• Reformation shares rose 9% to $14.91 in mid-day trading, with volume 32% above the average daily level.
• Analyst sentiment remains positive: eight analysts rate the stock a Buy and two rate it Hold, producing a consensus “Moderate Buy” rating and an average price target of $19.25.
• Potential growth drivers include a planned high-tech Toronto store and increased celebrity visibility, while insider sales by director Yael Aflalo and major shareholder Scsp Refo each reduced their holdings by 9.31%.

Reformation Inc. (NYSE:REF - Get Free Report) shares shot up 9% during mid-day trading on Thursday . The company traded as high as $14.91 and last traded at $14.91. Approximately 621,726 shares traded hands during mid-day trading, an increase of 32% from the average daily volume of 470,730 shares. The stock had previously closed at $13.68.

Reformation News Roundup

Here are the key news stories impacting Reformation this week:

• Positive Sentiment: Reformation is reportedly preparing to open a high-tech store at Toronto’s Eaton Centre, expanding its physical retail presence and giving the sustainable fashion brand access to a major Canadian shopping destination. Internet-famous fashion brand opening high-tech new store in Toronto mall
• Positive Sentiment: Recent celebrity exposure, including Pippa Middleton wearing Reformation apparel, may support brand awareness, customer interest and sales momentum, although the direct financial impact is uncertain. Pippa Middleton wears Reformation dress

Wall Street Analyst Weigh In

REF has been the topic of a number of recent analyst reports. Royal Bank Of Canada initiated coverage on Reformation in a report on Monday. They set an "outperform" rating and a $18.00 target price on the stock. Wall Street Zen raised shares of Reformation to a "hold" rating in a research report on Saturday, August 8th. Morgan Stanley began coverage on shares of Reformation in a report on Monday. They issued an "equal weight" rating and a $16.00 price objective on the stock. Robert W. Baird initiated coverage on shares of Reformation in a research report on Monday. They issued an "outperform" rating and a $19.00 price objective on the stock. Finally, Zacks Research upgraded shares of Reformation to a "hold" rating in a research note on Tuesday. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Reformation currently has a consensus rating of "Moderate Buy" and an average price target of $19.25.

Reformation Stock Performance

Insider Transactions at Reformation

In related news, Director Yael Aflalo sold 1,204,029 shares of the firm's stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $13.95, for a total transaction of $16,796,204.55. Following the transaction, the director directly owned 11,725,803 shares of the company's stock, valued at approximately $163,574,951.85. This trade represents a 9.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Scsp Refo sold 2,987,199 shares of the firm's stock in a transaction dated 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 ownership of the stock. The disclosure for this sale is available in the SEC filing.

About Reformation

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

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