Hanger Trading Up 3.9% on Insider Buying Activity (HGR)
Hanger (NYSE:HGR)’s share price was up 3.9% on Thursday following insider buying activity, AnalystRatingsNetwork.com reports. The stock traded as high as $22.10 and last traded at $21.90, with a volume of 446,423 shares changing hands. The stock had previously closed at $21.07.
Specifically, Director Richard Pettingill bought 4,810 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average price of $20.79 per share, for a total transaction of $99,999.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on HGR shares. Analysts at SunTrust downgraded shares of Hanger from a “buy” rating to a “neutral” rating in a research note on Monday, August 11th. They now have a $24.00 price target on the stock, down previously from $38.00. Separately, analysts at Jefferies Group cut their price target on shares of Hanger from $41.00 to $30.00 in a research note on Friday, August 8th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Hanger in a research note on Monday, July 28th. They now have a $32.00 price target on the stock.
The stock’s 50-day moving average is $28.11 and its 200-day moving average is $31.87. The company has a market cap of $785.6 million and a P/E ratio of 12.78.
Hanger (NYSE:HGR) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.40 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.53 by $0.13. The company had revenue of $275.85 million for the quarter, compared to the consensus estimate of $285.51 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. On average, analysts predict that Hanger will post $1.73 earnings per share for the current fiscal year.
Hanger, Inc, formerly Hanger Orthopedic Group, Inc, is a provider of services and products that enhance human physical capabilities.
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