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

Zacks Investment Research upgraded shares of Hanger (NYSE:HNGRGet Rating) from a strong sell rating to a hold rating in a research report released on Tuesday morning, 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 Hanger stock opened at $19.06 on Tuesday. Hanger has a 52 week low of $16.16 and a 52 week high of $26.69. The company has a current ratio of 1.40, a quick ratio of 1.02 and a debt-to-equity ratio of 4.56. The company has a market capitalization of $743.89 million, a PE ratio of 17.81 and a beta of 1.31. The business has a 50-day simple moving average of $18.34.

Hanger (NYSE:HNGRGet Rating) last released its earnings results on Monday, February 28th. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.15). Hanger had a return on equity of 48.78% and a net margin of 3.75%. During the same quarter in the prior year, the company earned $0.36 earnings per share. Equities research analysts anticipate that Hanger will post 1.07 EPS for the current fiscal year.

In other news, CFO Thomas E. Kiraly sold 8,750 shares of Hanger stock in a transaction that occurred on Tuesday, March 15th. The shares were sold at an average price of $19.16, for a total value of $167,650.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP James H. Campbell sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 8th. The shares were sold at an average price of $19.52, for a total transaction of $78,080.00. The disclosure for this sale can be found here. Insiders own 3.56% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Foundry Partners LLC boosted its position in Hanger by 11.4% during the 4th quarter. Foundry Partners LLC now owns 236,085 shares of the company’s stock worth $4,280,000 after acquiring an additional 24,090 shares during the period. BNP Paribas Arbitrage SA grew its position in Hanger by 33.1% during the third quarter. BNP Paribas Arbitrage SA now owns 88,297 shares of the company’s stock valued at $1,939,000 after purchasing an additional 21,961 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in Hanger by 22.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,869,676 shares of the company’s stock valued at $41,058,000 after buying an additional 338,870 shares during the period. Swiss National Bank lifted its position in Hanger by 1.4% in the 3rd quarter. Swiss National Bank now owns 85,200 shares of the company’s stock worth $1,871,000 after buying an additional 1,200 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in Hanger by 24.0% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 12,424 shares of the company’s stock worth $273,000 after buying an additional 2,401 shares in the last quarter. Institutional investors and hedge funds own 95.28% of the company’s stock.

About Hanger (Get Rating)

Hanger, Inc provides orthotic and prosthetic (O&P) services in the United States. It operates in two segments, Patient Care and Products & Services. The Patient Care segment owns and operates Hanger clinic, which specializes in the design, fabrication, and delivery of custom O&P devices through patient care clinics and satellite locations; and offers payor network contracting services to other O&P providers.

Further Reading

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