) from Buy to Hold. Petusky said the company reported "very disappointing" results for the second quarter, noting an adjusted EPS of $0.40 compared to the firm's $0.57 estimate and a $0.53 estimate. In addition to the EPS miss, Hanger also slashed its 2014 EPS and revenue guidance from $2.01-2.11 and $1.10 - 1.12 billion to $1.60-1.70 and $1.06-1.08 billion. "The outlook provided by management for the remainder of the year does not really include a path that will drive positive sales comps in the near future; cost-cutting, while helpful, will not overcome negative sales comps," Petusky said.