Hanger (NYSE:HNGR) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Hanger (NYSE:HNGR) from a sell rating to a hold rating in a research note published on Wednesday, Zacks.com reports.

According to Zacks, “Hanger, Inc. delivers orthotic and prosthetic patient care, and distributes O&P products and rehabilitative solutions. The company’s products & services segment provides Hanger distributes branded and private label O&P devices, products and components and provides rehabilitative solutions. Hanger Inc., formerly known as Hanger Orthoped, is based in AUSTIN, Texas. “

Shares of HNGR opened at $18.83 on Wednesday. The company has a current ratio of 1.52, a quick ratio of 1.12 and a debt-to-equity ratio of 5.53. Hanger has a 12-month low of $16.16 and a 12-month high of $26.69. The firm has a 50-day moving average price of $18.21 and a 200 day moving average price of $21.10. The firm has a market capitalization of $728.91 million, a P/E ratio of 16.81 and a beta of 1.41.

Hanger (NYSE:HNGR) last announced its quarterly earnings data on Monday, November 8th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.12. The firm had revenue of $289.83 million during the quarter, compared to analyst estimates of $282.22 million. Hanger had a net margin of 4.06% and a return on equity of 57.51%. During the same quarter in the prior year, the firm posted $0.20 earnings per share. Equities research analysts predict that Hanger will post 1.13 earnings per share for the current fiscal year.

In other Hanger news, CFO Thomas E. Kiraly sold 8,750 shares of the stock in a transaction dated Thursday, December 16th. The shares were sold at an average price of $17.30, for a total transaction of $151,375.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.81% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC acquired a new stake in shares of Hanger during the second quarter worth about $30,000. Advisor Group Holdings Inc. lifted its position in shares of Hanger by 1,561.0% during the third quarter. Advisor Group Holdings Inc. now owns 1,661 shares of the company’s stock worth $36,000 after purchasing an additional 1,561 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Hanger by 56.2% during the second quarter. Royal Bank of Canada now owns 2,569 shares of the company’s stock worth $65,000 after purchasing an additional 924 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Hanger in the third quarter valued at approximately $148,000. Finally, Eqis Capital Management Inc. acquired a new stake in Hanger in the second quarter valued at approximately $213,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Hanger Company Profile

Hanger, Inc provides orthotic and prosthetic patient care products and services. The company operates through the following segments: Patient Care and Products & Services. The Patient Care segment consists of the Hanger Clinic, Cares, Dosteon, other O&P businesses and its contracting network management business.

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