The Habit Restaurants, Inc. (HABT), a fast casual restaurants company yesterday reported fourth quarter and full year 2016 financial results. Habit reported fourth quarter earnings of $0.07 per share which beat same quarter last year earnings of $0.04 per share. Habit reported fourth quarter revenues of $73.9 million which beat same quarter last year numbers of $60.6 million.   

The Habit Restaurants, Inc. CEO’s Comments

“Our fourth quarter results included a 21.8% increase in total revenue and our 52nd consecutive quarter of positive comparable restaurant sales. We’re particularly proud of these results as they occurred during a fiercely competitive environment in the restaurant industry. Our growth in the quarter was driven by innovation, new digital marketing campaigns as well as our long-standing strategy of providing a differentiated high-quality fast-casual experience at a tremendous every day value,” said Russ Bendel, President and Chief Executive Officer of The Habit Restaurants, Inc. “We opened 11 new company-operated Habit Burger Grills during the quarter. These openings included three locations in Florida, one in New Jersey, one in Arizona and six locations in California. In addition, we opened two franchise locations, one in Dubai and one in Sharjah. These are our first international locations”  Globe Newswire

HABT Technical Analysis

HABT opened trading yesterday at $13.75 which was exactly the same as the previous day’s trading close. HABT closed trading yesterday at $13.80 and spiked up after market to $15.30, equivalent to a 11% increase from the closing price. Taking a look at the daily chart we can see that the last time HABT traded above these levels we have to go all the way back to January 13th, when it traded at highs of $15.52.

Taking a closer look at the daily chart we can see that before the spike up HABT had been in an overall downward trend dating back to December 27th, 2016 when it traded at $17.85. HABT has a float of 17.6 million shares and traded 1.39 times the normal daily trading volume on Thursday.