Reformation Inc.’s (NYSE:REF) Quiet Period To End Tomorrow

Reformation’s (NYSE:REF) quiet period is set to expire on Tuesday, September 8th. Reformation had issued 14,062,500 shares in its public offering on July 30th. The total size of the offering was $210,937,500 based on an initial share price of $15.00. During Reformation’s quiet period, insiders and any underwriters that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Ratings Changes

Several research firms have recently issued reports on REF. Royal Bank Of Canada began coverage on Reformation in a report on Monday, August 24th. They issued an “outperform” rating and a $18.00 target price for the company. Citigroup started coverage on Reformation in a research report on Monday, August 24th. They set a “buy” rating and a $20.00 target price for the company. Morgan Stanley assumed coverage on shares of Reformation in a research report on Monday, August 24th. They issued an “equal weight” rating and a $16.00 price objective on the stock. Guggenheim initiated coverage on Reformation in a research note on Monday, August 24th. They set a “buy” rating and a $20.00 price target for the company. Finally, Robert W. Baird began coverage on shares of Reformation in a report on Monday, August 24th. They issued an “outperform” rating and a $19.00 price objective for the company. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $19.25.

Reformation Stock Performance

Shares of NYSE:REF opened at $13.67 on Monday. Reformation has a 12 month low of $12.83 and a 12 month high of $17.26.

Insider Buying and Selling at Reformation

In other Reformation news, Director Yael Aflalo sold 1,204,029 shares of the firm’s 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 completion of the transaction, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Scsp Refo sold 2,987,199 shares of the business’s stock in a transaction on Friday, July 31st. The shares were 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 $405,829,898.55. This trade represents a 9.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 4,401,122 shares of company stock valued at $61,395,652.

Reformation Company Profile

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