The market may have been struggling to push higher over the last couple of weeks, but that hasn’t been the case for all shares on it.
Three that reached 52-week highs or better yesterday are listed below. Is it too late to invest?
The BWP Trust (ASX: BWP) share price closed at a 52-week high of $3.37 yesterday. Investors appear to have been pleased with the Bunnings Warehouse landlord’s solid full year result last month. BWP delivered revenue growth of 1% to $153.4 million thanks to seven market rent reviews which resulted in a 4.6% increase in rents. This allowed the BWP Trust board to increase its distribution by 2% to 17.8 cents per unit, which works out to be a trailing distribution yield of 5.3%. I think this is still very attractive and makes its shares worth considering.
The Money3 Corporation Limited (ASX: MNY) share price reached an all-time high of $2.31 on Wednesday. Investors have been fighting to get hold of shares since the financial services company posted a 10.1% increase in net profit after tax to $32 million in August. This was driven by a 16.6% increase in its secured auto loan book. The good news is that Money3 still only has a very small slice of the secured auto loan market, which could mean this solid growth can continue for some time to come. In light of this and the fact its shares are changing hands at just 11.5x earnings, I still see a lot of value in Money3’s shares even though they are at an all-time high.
The Premier Investments Limited (ASX: PMV) share price touched on an all-time high of $20.16 yesterday. Investors appear to believe that the retail conglomerate will deliver a strong full year result later this month due to the impressive form of its Smiggle and Peter Alexander brands. While I am a big fan of the company, I think its shares are looking a touch expensive at 26x estimated full year earnings. As a result, I would suggest investors wait for the release of its full year results before considering an investment.
In the meantime, I think this top share would be a great investment right now.
Scott Phillips has stumbled upon a little-owned stock he believes could be one of the greatest discoveries of his 25 years as a professional investor.
This is your chance to get in early on of what could prove to be a very special investment recommendation. Think about how many investing trends you've missed out on, even though you knew they were going to be big. Don't let that happen again. This is your chance to get in early.
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Premier Investments 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 Scott Phillips.