Reformation (NYSE:REF) Rating Increased to Moderate Buy at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of Reformation (NYSE:REF) to a moderate buy rating in a research note released on Monday morning,Zacks.com reports.

Several other analysts also recently weighed in on the company. BTIG Research began coverage on Reformation in a research note on Monday. They set a “buy” rating and a $20.00 target price for the company. Guggenheim started coverage on Reformation in a research report on Monday. They issued a “buy” rating and a $20.00 price target on the stock. Citigroup assumed coverage on Reformation in a research report on Monday. They issued a “buy” rating and a $20.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on Reformation in a report on Monday. They set an “overweight” rating and a $21.00 price target for the company. Finally, Morgan Stanley initiated coverage on Reformation in a research report on Monday. They issued an “equal weight” rating and a $16.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $19.25.

Reformation Trading Down 0.3%

Shares of NYSE:REF opened at $14.43 on Monday. Reformation has a 52-week low of $14.20 and a 52-week high of $17.26.

Insider Transactions at Reformation

In related news, Director Yael Aflalo sold 1,204,029 shares of the stock in a transaction dated 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 completion of the sale, the director owned 11,725,803 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Scsp Refo sold 2,987,199 shares of Reformation stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $13.95, for a total value of $41,671,426.05. Following the sale, the insider directly owned 29,091,749 shares in the company, valued at approximately $405,829,898.55. This trade represents a 9.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Reformation News Roundup

Here are the key news stories impacting Reformation this week:

• Positive Sentiment: Multiple analyst upgrades strengthen the bullish case. Royal Bank of Canada upgraded Reformation to “moderate buy,” while Guggenheim and Robert W. Baird raised their ratings to “strong buy.” The cluster of upgrades suggests improving analyst confidence in the company’s outlook. Zacks.com
• Positive Sentiment: New coverage includes optimistic ratings and substantial upside targets. JPMorgan initiated coverage with an “overweight” rating and a $21 price target, while BTIG Research and Telsey Advisory Group began coverage with “buy” and “outperform” ratings, respectively, and $20 targets. These targets imply roughly 39% to 46% upside from the referenced $14.43 level. Benzinga
• Neutral Sentiment: Analyst enthusiasm has not yet translated into broad investor conviction. A recent report notes that Reformation has Wall Street’s backing, but investors remain unconvinced, indicating that the market may be waiting for stronger operating results or other evidence before assigning the stock a higher valuation. Reformation has Wall Street’s backing, but investors aren’t sold yet

Reformation Company Profile

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