Yesterday the Westpac Banking Corp (ASX: WBC) share price became yet another member of the big four to hit a new 52-week high.
Whilst the banks may have grabbed the headlines, they certainly weren't the only shares to have reached new highs. Here are three in particular that caught my eye:
The Breville Group Ltd (ASX: BRG) share price hit a new 52-week high of $10.10 yesterday. The electrical appliance manufacturer's shares have been given a boost in recent weeks thanks to both Macquarie and Credit Suisse slapping outperform ratings on its shares. Whilst I am a fan of the company, at 24x trailing earnings I feel its shares are starting to look a little on the expensive side. This year management expects earnings before interest and tax to grow by around 6.7% year-on-year.
The iSelect Ltd (ASX: ISU) share price climbed 3.5% on Thursday to reach a 52-week high of $2.05. This latest gain means its shares have now gained over 110% since this time last year. I can't say I'm overly surprised by this incredible rally. Its shares were crushed at the end of 2015 after several strategic and operational issues led to management revising its FY 2016 guidance down sharply. Thankfully for shareholders FY 2017 has been a return to form, with the company on course to grow full-year earnings before interest and tax by between 27% and 45% this year.
The WAM Capital Limited (ASX: WAM) share price hit a 52-week high of $2.10 yesterday. I expect investors have been attracted to the listed investment company due to its continued outperformance of the S&P/ASX All Ordinaries Accumulation Index and its estimated full-year fully franked 6% dividend. The company has beaten the index by some distance in the last 12 months thanks largely to successful investments in companies such as Nick Scali Limited (ASX: NCK), Afterpay Holdings Ltd (ASX: AFY), and Challenger Ltd (ASX: CGF).