Reformation (NYSE:REF) Trading Down 5.3% – What’s Next?

Reformation Inc. (NYSE:REF) traded down 5.3% during trading on Monday . The company traded as low as $13.79 and last traded at $13.85. Approximately 126,508 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 539,479 shares. The stock had previously closed at $14.63.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on REF. Guggenheim restated a “buy” rating and issued a $20.00 price objective on shares of Reformation in a research note on Friday, September 11th. Telsey Advisory Group began coverage on shares of Reformation in a research note on Monday, August 24th. They issued an “outperform” rating and a $20.00 target price on the stock. William Blair initiated coverage on shares of Reformation in a report on Monday, August 24th. They issued an “outperform” rating on the stock. Robert W. Baird initiated coverage on shares of Reformation in a research report on Monday, August 24th. They set an “outperform” rating and a $19.00 target price for the company. Finally, Zacks Research raised shares of Reformation to a “hold” rating in a report on Tuesday, August 25th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Reformation currently has an average rating of “Moderate Buy” and an average target price of $19.25.

Reformation Stock Down 5.9%

Reformation (NYSE:REF) last released its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $154.61 million. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. On average, research analysts anticipate that Reformation Inc. will post 0.16 EPS for the current fiscal year.

Insider Transactions at Reformation

In other Reformation news, major shareholder Scsp Refo sold 2,987,199 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $13.95, for a total value of $41,671,426.05. Following the completion of the transaction, the insider directly owned 29,091,749 shares of the company’s stock, valued at approximately $405,829,898.55. The trade was a 9.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Yael Aflalo sold 1,204,029 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $13.95, for a total transaction of $16,796,204.55. Following the transaction, the director owned 11,725,803 shares in the company, valued at $163,574,951.85. The trade was a 9.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 4,401,122 shares of company stock valued at $61,395,652.

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.