MENU

Why these 4 shares are climbing higher today

The S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) has been unable to follow up its strong performance from yesterday, with the main index today falling by 0.22% to 5,417 points.

Investors are remaining somewhat cautious ahead of today’s RBA decision, although the energy and materials sectors have provided some support for the broader market.

Four shares that have managed to deliver strong performances today, include:

Estia Health Ltd (ASX: EHE)

Shares of Estia Health have bounced around 8% today following a wave of relentless selling over the past week or so. The shares were smashed again yesterday following a sector wide downgrade by a leading investment bank, although today’s reaction suggests some investors think this may have been an over-reaction. Nevertheless, it appears investors have re-rated the entire aged care sector and I wouldn’t be surprised to see many investors put this sector in the ‘too hard’ basket for now.

JB Hi-Fi Limited (ASX: JBH)

JB Hi-Fi shares have climbed around 3% today following news reports that the electronics retailer is close to making a $850 million to $900 million offer for The Good Guys. Although the company has released a statement to the ASX that notes it is yet to make a decision on the takeover, investors are clearly in favour of the proposed acquisition. Since announcing its interest in the potential acquisition back in May, shares of JB Hi-Fi have gained around 40%.

Adacel Technologies Limited (ASX: ADA)

Shares of Adacel have gained more than 9% today after the company released a fairly upbeat investor presentation. The company delivered an excellent full year result last month and it appears that strong momentum has continued, with the opening order book for FY 2017 being the strongest opening in the company’s history. This has clearly pleased investors who may have been concerned that the exceptionally strong result in FY 2016 may not be replicated. Interestingly, shares of Adacel have gained a staggering 860% since the beginning of 2015.

Pact Group Holdings Ltd (ASX: PGH)

Pact Group shares have maintained their strong momentum from yesterday and have gained another 3.3% to $6.48 per share. Investors are clearly in favour of the company’s latest $90 million acquisition that is expected to broaden the company’s earnings base whilst also being earnings accretive from year one. Pact Group has been one of the top performing mid-cap shares over the past 12 months with a share price gain of 49%, along with fellow packaging company Orora Ltd (ASX: ORA). Its share price climbed 38% during that time.

Here's what happened to The Motley Fool's massive $1 million ASX bet...

Less than three years ago, Motley Fool boss Bruce Jackson bet $1,000,000 of company money (plus $500,000 of his own family's cash) on one unique service known as Motley Fool Pro. Now Pro is up a staggering 89%, darn near DOUBLING members' money! Simply click the link below to get a sneak peek at Pro's 3 biggest winners... the "golden egg" stocks that have powered Pro to 89% returns! Fair warning: Your special time-limited invitation won't wait.

Discover the 3 "golden egg" stocks - and your invitation!

Motley Fool contributor Christopher Georges has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.