Reformation (NYSE:REF) Trading Up 9% – Time to Buy?

Reformation Inc. (NYSE:REF)’s stock price shot up 9% during mid-day trading on Thursday . The company traded as high as $14.91 and last traded at $14.91. 621,726 shares traded hands during trading, an increase of 32% from the average daily volume of 470,730 shares. The stock had previously closed at $13.68.

Key Reformation News

Here are the key news stories impacting Reformation this week:

• Positive Sentiment: Reformation is reportedly preparing to open a high-tech store at Toronto’s Eaton Centre, expanding its physical retail presence and giving the sustainable fashion brand access to a major Canadian shopping destination. Internet-famous fashion brand opening high-tech new store in Toronto mall
• Positive Sentiment: Recent celebrity exposure, including Pippa Middleton wearing Reformation apparel, may support brand awareness, customer interest and sales momentum, although the direct financial impact is uncertain. Pippa Middleton wears Reformation dress

Analyst Ratings Changes

Several equities analysts have weighed in on REF shares. Telsey Advisory Group started coverage on Reformation in a report on Monday. They issued an “outperform” rating and a $20.00 price objective for the company. Robert W. Baird began coverage on Reformation in a report on Monday. They set an “outperform” rating and a $19.00 target price on the stock. William Blair assumed coverage on Reformation in a research report on Monday. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. started coverage on Reformation in a research note on Monday. They issued an “overweight” rating and a $21.00 price target for the company. Finally, Royal Bank Of Canada initiated coverage on shares of Reformation in a research report on Monday. They set an “outperform” rating and a $18.00 price objective for the company. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Reformation has an average rating of “Moderate Buy” and an average price target of $19.25.

Reformation Stock Performance

Insider Activity at Reformation

In related news, Director Yael Aflalo sold 1,204,029 shares of Reformation stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $13.95, for a total transaction of $16,796,204.55. Following the sale, the director directly owned 11,725,803 shares of the company’s stock, valued at approximately $163,574,951.85. The trade was a 9.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Scsp Refo sold 2,987,199 shares of the company’s stock in a transaction that occurred 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 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 SEC filing for this sale provides additional information.

Reformation Company Profile

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