Reformation (NYSE:REF) Releases Earnings Results, Hits Expectations

Reformation (NYSE:REF) released its earnings results on Thursday. The company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02, Zacks reports.

Reformation Stock Down 8.5%

Shares of NYSE REF traded down $1.56 during midday trading on Thursday, hitting $16.85. The stock had a trading volume of 562,760 shares, compared to its average volume of 500,817. The firm’s 50 day moving average is $14.24. Reformation has a 52 week low of $11.85 and a 52 week high of $18.44. The company has a current ratio of 1.58, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64. The stock has a market cap of $995.50 million and a P/E ratio of -1,685.00.

Insider Activity at Reformation

In related news, Director Yael Aflalo sold 60,298 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $13.95, for a total value of $841,157.10. Following the completion of the transaction, the director directly owned 11,665,505 shares in the company, valued at $162,733,794.75. The trade was a 0.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Scsp Refo sold 149,596 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $13.95, for a total value of $2,086,864.20. Following the completion of the transaction, the insider directly owned 28,942,153 shares in the company, valued at $403,743,034.35. This trade represents a 0.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Analysts Set New Price Targets

A number of brokerages have recently commented on REF. William Blair started coverage on Reformation in a research report on Monday, August 24th. They issued an “outperform” rating on the stock. Zacks Research raised Reformation to a “hold” rating in a research report on Tuesday, August 25th. Royal Bank Of Canada reiterated an “outperform” rating and set a $18.00 price objective on shares of Reformation in a research note on Friday, September 11th. Weiss Ratings began coverage on Reformation in a research note on Monday, October 26th. They issued a “sell (e)” rating on the stock. Finally, BTIG Research restated a “buy” rating on shares of Reformation in a report on Friday, September 11th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.25.

About Reformation

Reformation is a fashion company that designs and sells women’s clothing, footwear, accessories and related products. Its assortment includes dresses, tops, denim, knitwear, outerwear, shoes, handbags and wedding apparel, with products offered through its direct-to-consumer website and retail stores.

Founded in 2009 by Yael Aflalo, Reformation built its brand around combining contemporary style with sustainability-focused production practices. The company has emphasized the use of lower-impact materials, reuse of vintage garments and deadstock fabrics, and efforts to reduce the environmental impact of its operations and supply chain.

Reformation serves customers in the United States and internationally through its online platform and a network of retail locations.