Reformation (NYSE:REF) Rating Increased to Strong-Buy at Guggenheim

Guggenheim upgraded shares of Reformation (NYSE:REF) to a strong-buy rating in a research note published on Monday morning,Zacks.com reports.

A number of other research firms also recently commented on REF. Wall Street Zen raised Reformation to a “hold” rating in a research note on Saturday, August 8th. Morgan Stanley began coverage on Reformation in a research note on Monday. They set an “equal weight” rating and a $16.00 target price for the company. Telsey Advisory Group began coverage on Reformation in a report on Monday. They set an “outperform” rating and a $20.00 target price on the stock. Royal Bank Of Canada started coverage on shares of Reformation in a research report on Monday. They issued an “outperform” rating and a $18.00 price target on the stock. Finally, William Blair initiated coverage on shares of Reformation in a report on Monday. They issued an “outperform” rating for the company. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $19.25.

Reformation Trading Down 0.3%

Shares of NYSE:REF opened at $14.43 on Monday. Reformation has a 12 month low of $14.20 and a 12 month high of $17.26.

Insider Buying and Selling at Reformation

In other Reformation news, major shareholder Scsp Refo sold 2,987,199 shares of the company’s stock in a transaction on 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 transaction, the insider owned 29,091,749 shares of the company’s stock, valued at approximately $405,829,898.55. This 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, 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 of the company’s stock, valued at $163,574,951.85. This trade represents a 9.31% decrease in their position. The disclosure for this sale is available in the SEC filing.

Key Reformation News

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

About Reformation

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