Reformation (NYSE:REF) Issues Quarterly Earnings Results

Reformation (NYSE:REF) released its earnings results on Thursday. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03, Zacks reports.

Reformation Stock Performance

Shares of Reformation stock traded down $0.47 during midday trading on Thursday, hitting $13.18. The company had a trading volume of 513,668 shares, compared to its average volume of 428,214. Reformation has a 52-week low of $12.83 and a 52-week high of $17.26.

Analyst Ratings Changes

Several research firms have recently issued reports on REF. Citigroup started coverage on shares of Reformation in a research report on Monday, August 24th. They issued a “buy” rating and a $20.00 price target on the stock. Wall Street Zen upgraded Reformation to a “hold” rating in a research report on Saturday, August 8th. JPMorgan Chase & Co. started coverage on shares of Reformation in a research report on Monday, August 24th. They issued an “overweight” rating and a $21.00 target price for the company. Robert W. Baird assumed coverage on shares of Reformation in a research report on Monday, August 24th. They set an “outperform” rating and a $19.00 price target on the stock. Finally, Zacks Research raised Reformation to a “hold” rating in a research note on Tuesday, August 25th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Reformation has an average rating of “Moderate Buy” and an average target price of $19.25.

Insiders Place Their Bets

In other Reformation news, major shareholder Scsp Refo sold 2,987,199 shares of Reformation 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 completion of the transaction, the insider owned 29,091,749 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Yael Aflalo sold 1,204,029 shares of the stock in a transaction on Wednesday, July 29th. The stock was 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 directly owned 11,725,803 shares in the company, valued at approximately $163,574,951.85. This represents a 9.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,401,122 shares of company stock valued at $61,395,652 in the last quarter.

About Reformation

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