These 3 ASX shares just raced to 52-week highs: Is it too late to invest?

The Collins Foods Ltd (ASX:CKF) share price is one of three hitting a 52-week high this week. Is it too late to invest?

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The market may have sunk notably lower on Monday but not all shares were dragged into the red.

In fact, a few shares even managed to climb to 52-week highs or better during the market selloff. Is it too late to invest?

The Collins Foods Ltd (ASX: CKF) share price climbed to a 52-week high of $6.69 on Monday. Investors have been fighting to get hold of the quick service restaurant operator's shares since it announced that it has entered into a development agreement with Yum! Brands that will govern the roll-out of more than 50 new Taco Bell restaurants across multiple states in Australia between January 2019 and December 2021. If the rollout is a success it could give the company's medium term growth a real boost. So with its shares trading at 20x full year earnings, it may not be too late to invest,

The Noni B Limited (ASX: NBL) share price hit a multi-year high of $3.90 yesterday before edging lower. The fashion retailer's shares have more than doubled in value since the start of the year thanks to a strong performance in FY 2018 and its positive medium term outlook following the acquisition of a number of brands from Specialty Fashion Group Ltd (ASX: SFH). Despite the impressive share price gains, Noni B's shares are still only changing hands at 16.5x full year earnings. I think this is great value for its current growth profile.

The Volpara Health Technologies Ltd (ASX: VHT) share price raced to an all-time high of $1.22 on Monday. The healthcare technology company's shares have been on fire over the last 12 months thanks to the growing popularity of its breast imaging analytics and analysis software platform. In FY 2018 its annual recurring revenues grew at an impressive 223% year-on-year after it increased its share of the U.S. breast screening market to 3.7%. If management hits its 9% market share target in FY 2019 then it could deliver similarly strong recurring revenue growth. While I don't think it is too late to invest with a long term view, it is a reasonably high risk investment option at these levels.

Motley Fool contributor James Mickleboro owns shares of Collins Foods Limited. The Motley Fool Australia owns shares of and has recommended VOLPARA FPO NZ. The Motley Fool Australia has recommended Collins Foods 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.

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