Reformation Inc. (NYSE:REF – Get Free Report) shares hit a new 52-week low on Wednesday. The stock traded as low as $12.80 and last traded at $12.95, with a volume of 52270 shares trading hands. The stock had previously closed at $13.60.
Analyst Ratings Changes
REF has been the topic of a number of recent analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $18.00 price target on shares of Reformation in a research report on Friday, September 11th. Zacks Research raised Reformation to a “hold” rating in a research report on Tuesday, August 25th. William Blair initiated coverage on Reformation in a research note on Monday, August 24th. They issued an “outperform” rating for the company. Guggenheim restated a “buy” rating and set a $20.00 price target on shares of Reformation in a research note on Friday, September 11th. Finally, JPMorgan Chase & Co. began coverage on shares of Reformation in a report on Monday, August 24th. They set an “overweight” rating and a $21.00 price objective on the stock. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.25.
Read Our Latest Analysis on Reformation
Reformation Price Performance
Reformation (NYSE:REF – Get Free Report) last released its earnings results on Thursday, September 10th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $155.23 million for the quarter, compared to analyst estimates of $154.61 million. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. Analysts expect that Reformation Inc. will post 0.16 earnings per share for the current year.
Insider Buying and Selling
In other news, Director Yael Aflalo sold 1,204,029 shares of the stock in a transaction on 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 sale, the director owned 11,725,803 shares in the company, valued at $163,574,951.85. This 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 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 of the company’s stock, valued at approximately $405,829,898.55. This trade represents a 9.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,401,122 shares of company stock valued at $61,395,652 over the last three months.
About Reformation
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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