Although the performance of the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has been reasonably mixed in the last few months, that hasn't stopped some shares from rocketing higher.
The shares listed below have just hit 52-week highs. Can they keep climbing higher?
The Jumbo Interactive Ltd (ASX: JIN) hit a multi-year high of $2.82 yesterday. This fast-growing lottery reseller's shares have rallied a massive 19% this month on the back of news that its decade-long lottery reseller agreements with Tatts Group Limited (ASX: TTS) have been extended for at least five more years. Furthermore, Tatts has acquired a 15% stake in the company. I believe this is great news and think that Jumbo is still reasonably good value despite the strong gain.
The RCR Tomlinson Limited (ASX: RCR) share price hit a two-year high of $3.42 on Monday. The diversified engineering and infrastructure company announced a series of major contract wins in the last few weeks worth almost $400 million. One such contract, valued at $175 million, is to design and construct one of Australia's largest utility solar farms located in Dalby, Queensland. I believe its shares are fully priced now, but should the new contracts keep rolling in then there could be further upside potential.
The XERO FPO NZX (ASX: XRO) share price reached a two-year high of $22.08 yesterday. The catalyst for this has been its impressive increase in subscriptions and the release of a strong full-year result last week. At the end of March the company reported that its cloud accounting software platform had surpassed one million subscribers. This ultimately led to Xero posting a 43% jump in full-year revenue last week. I believe Xero's growth is only just starting, which could make it a great option for investors even at its two-year high.
