Habit Restaurants (NASDAQ:HABT) Downgraded to Hold at Zacks Investment Research

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Zacks Investment Research cut shares of Habit Restaurants (NASDAQ:HABT) from a strong-buy rating to a hold rating in a research report released on Friday, Zacks.com reports.

According to Zacks, “The Habit Restaurants, Inc., operator of The Habit Burger Grill, is a burger-centric fast casual restaurant company. It is engaged in preparing char-grilled burgers, sandwiches and salads. The Company offers tri-tip steak, grilled chicken and sushi-grade albacore tuna cooked over an open flame; prepared salads and a selection of sides, shakes and malts. It has operations in California, including Bay area, Central California, Greater La, Inland Empire, Orange County, Sacramento, San Diego; Arizona; Utah and New Jersey. The Habit Restaurants, Inc. is based in Irvine, California. “

Several other equities research analysts also recently weighed in on HABT. BidaskClub downgraded shares of Habit Restaurants from a hold rating to a sell rating in a research note on Tuesday, July 9th. Maxim Group reissued a buy rating and issued a $17.00 target price on shares of Habit Restaurants in a research note on Friday. ValuEngine downgraded shares of Habit Restaurants from a buy rating to a hold rating in a research note on Wednesday, May 29th. Finally, Wedbush reduced their target price on shares of Habit Restaurants from $20.00 to $15.00 and set an outperform rating on the stock in a research note on Thursday, August 1st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $15.33.

HABT stock opened at $9.66 on Friday. Habit Restaurants has a 52 week low of $9.30 and a 52 week high of $18.30. The company has a quick ratio of 0.61, a current ratio of 0.64 and a debt-to-equity ratio of 1.04. The company’s fifty day simple moving average is $10.03. The company has a market capitalization of $260.05 million, a price-to-earnings ratio of 62.25, a P/E/G ratio of 3.78 and a beta of 1.01.

Habit Restaurants (NASDAQ:HABT) last announced its earnings results on Wednesday, July 31st. The restaurant operator reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.03. Habit Restaurants had a net margin of 0.43% and a return on equity of 2.42%. The business had revenue of $117.90 million for the quarter, compared to the consensus estimate of $116.82 million. During the same quarter in the prior year, the firm posted $0.08 earnings per share. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. Research analysts anticipate that Habit Restaurants will post 0.13 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its stake in Habit Restaurants by 512.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,239 shares of the restaurant operator’s stock worth $46,000 after buying an additional 3,547 shares during the period. Metropolitan Life Insurance Co. NY increased its position in Habit Restaurants by 356.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,158 shares of the restaurant operator’s stock valued at $75,000 after purchasing an additional 5,590 shares during the period. Macquarie Group Ltd. purchased a new position in Habit Restaurants during the 4th quarter valued at about $100,000. Stephens Inc. AR purchased a new position in Habit Restaurants during the 1st quarter valued at about $130,000. Finally, Stifel Financial Corp purchased a new position in Habit Restaurants during the 4th quarter valued at about $132,000. 63.55% of the stock is currently owned by institutional investors.

Habit Restaurants Company Profile

The Habit Restaurants, Inc, a holding company, operates and franchises fast casual restaurants under The Habit Burger Grill name. It specializes in offering made-to-order char-grilled burgers and sandwiches featuring choice tri-tip steak, grilled chicken, and sushi-grade tuna cooked over an open flame; and salads, as well as sides, shakes, and malts.

See Also: Beige Book

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