The Motley Fool

These ASX shares raced to 52-week highs today

Earlier today I had a look at a couple of shares which had unfortunately fallen to 52-week lows today.

Now I thought I would look at the other side of the coin, at the shares that have raced to 52-week highs today. Two that caught my eye are listed below. Here’s why they are flying high:

The Australian Vintage Limited (ASX: AVG) share price climbed to a 52-week high of 56 cents today. Although there hasn’t been any news out of the company for some time, there was positive wine export data released last month. That data revealed that Australia shipped out a record 811 million litres of wine in 2017, which was an 8% increase on 2016.

Furthermore, the share price of rival wine company rival Treasury Wine Estates Ltd (ASX: TWE) has scaled to new heights in the last couple of weeks on the back of a stellar half-year result. Investors may be betting that Australian Vintage has been able to turn around its performance. They won’t have long to wait to see if that is the case. It is due to report its earnings on February 21. I would suggest investors keep their powder dry until then.

The Idp Education Ltd (ASX: IEL) share price reached a 52-week high of $7.02 on Thursday a day after its strong half-year result release. The education services company posted an impressive 27% increase in first-half net profit after tax to $30.5 million thanks largely to strong demand for its English language tests.

One broker that liked what it saw was Goldman Sachs. According to a note released this morning, its analysts retained their buy rating on IDP Education and increased their price target on its shares by 24% to $7.90. I would have to agree with Goldman on this one. I was very impressed with its half-year result and think it could still be a great investment even after its sizeable gain this week.

Finally, here are three growth shares that I'm tipping to climb to 52-week highs in the near future.

Top 3 ASX Blue Chips To Buy In 2018

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool’s Top 3 Blue Chip Stocks for 2018."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies moves – we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Treasury Wine Estates Limited. 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.

NEW. Five Cheap and Good Stocks to Buy in 2019…

Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.8% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.