Although the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has sunk lower today, it hasn't stopped a number of shares on the market from climbing to all-time highs.
Listed below are three which caught my eye. Can they still go higher from here?
The NIB Holdings Limited (ASX: NHF) share price touched on another all-time high of $6.18 in early trade. Investors have been fighting to get hold of its shares in the last few months and it isn't hard to see why. Thanks to market share gains and policyholder growth, NIB Holdings recently reported a massive 65% increase in half-year net profit after tax to $71.1 million. As impressive as this performance has been, at almost 22x trailing earnings I think the private health insurer is starting to look a little expensive.
The Tamawood Limited (ASX: TWD) share price climbed to a new high of $4.07 today, bringing its year-to-date return to just over 10%. As well as posting a solid first-half result, management recently advised that the second-half had started equally strong. As a result it expects full-year profit to be 20% higher year-on-year subject to there being no adverse weather. Pleasingly the Queensland-based homebuilder reported this week that Cyclone Debbie has had no impact on the business. At just over 12x trailing earnings I think Tamawood looks attractive for the level of growth it is producing.
The Updater Inc (ASX: UPD) share price has continued its great run and has climbed to an all-time high of 77 cents during morning trade. Today's gain means the US-based technology company's shares have now risen a remarkable 340% since this time last year. Updater provides a platform designed to simplify the process of moving house. It connects companies such as real estate agents and mortgage brokers, while coordinating mail forwarding, logistics, and record updating for customers. The company recently announced 345,899 quarterly moves, which equates to market penetration of approximately 9%. With figures like that, I think Updater is worth keeping a close eye on.
