Although the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) had a day to forget on Thursday, it didn't stop a number of shares from surging to all-time highs.
Three which caught my eye are listed below. Can they climb higher from here or should you stay clear of them?
The LiveHire Ltd (ASX: LVH) share price hit an all-time high of 62 cents on Thursday. Investors have been fighting to get hold of the exciting tech company's shares since its last quarterly update which revealed a 75% quarter-on-quarter increase in cash receipts. Strong demand for its talent pool platform from the likes of Wesfarmers Ltd (ASX: WES) and UniSuper led to the impressive result. I believe LiveHire has a bright future and could still provide outsized long-term returns at the current share price.
The Transurban Group (ASX: TCL) share price hit an all-time high of $12.91 yesterday. The toll road giant's shares have now gained close to 25% since the turn of the year. During the March quarter the company delivered an 11.3% jump in toll revenue to $502 million thanks largely to a 5.3% increase in average daily traffic. Whilst I am a big fan of the company and its lucrative road network, at 100x trailing earnings I think its shares are expensive and in danger of declines as rates rise in the United States and bond yields widen.
The Webjet Limited (ASX: WEB) share price soared to an all-time high of $12.86 on Thursday. The online travel agent's shares have gone gangbusters in the last 12 months and provided investors with a 75% return. I can't say I'm surprised by this gain. After all, strong bookings growth and market share gains from all its key businesses led to Webjet reporting a 96% jump in half-year net profit after tax. I still think Webjet would be a great buy and hold investment even after this strong gain.
