E IPO Of The Week: The Habit Restaurants

On Thursday, Nasdaq welcomed The Habit Restaurants, Inc. (HABT) to its ranks:

Nasdaq (NDAQ) announced that trading of The Habit Restaurants, Inc. (HABT) commenced on The Nasdaq Stock Market on November 20, 2014.

The Habit Restaurants, Inc., operator of The Habit Burger Grill, is a burger-centric fast casual restaurant concept that specializes in preparing fresh, made-to-order char-grilled burgers, sandwiches and salads. Fresh ingredients include USDA choice tri-tip steak, grilled chicken and line-caught sushi-grade albacore tuna cooked over an open flame. The first Habit opened in Santa Barbara, California in 1969, and has since grown to over 100 restaurants in 10 markets throughout California, Arizona, Utah and New Jersey.

“Since its first restaurant opening 45 years ago, The Habit continues to excel in the fast casual dining sector through its commitment to hospitality, quality and fresh, delicious ingredients,” said Nelson Griggs, Executive Vice President, Listing Services, Nasdaq. “We congratulate The Habit Restaurants on its successful listing and we look forward to celebrating more milestones with them in the years to come.”

The markets welcome HABT too, opening at $30 and spiking at one point as high as $41.99. Some commentary on the price action:

WSJ: Habit Restaurants Doubles In First Hours of Trading

According to IBD,

The Habit's public offering is expected to close Nov. 25. The company has given underwriters a 30-day option to purchase up to 750,000 more shares of common stock at the IPO price.

While most early analysts focused on the sizzle, Chris Nichols at Yahoo focused on the beef:

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