MENU

Why Costa Group Holdings Ltd is among 4 shares storming higher today

The S&P / ASX200 (ASX: XJO) is 0.2% higher in lunchtime trade today after Wall Street was closed overnight for the Thanksgiving public holiday, while major European indices continue to fall due to concerns over the EU and United Kingdom’s Brexit deal.

However, there are a few businesses storming higher in Australia today on the back of some strong updates, so let’s take a look at what might be giving investors cause for cheer.

The IPH Ltd (ASX: IPH) share price is up 3.4% to $5.18 after the holding group behind the Spruson & Ferguson patent law firm and others in Asia provided a strong trading update at its AGM in Sydney today. IPH’s management reported Australia and New Zealand patent filings are up 3.6% on the prior corresponding period, with Asia seeing “double digit” revenue and EBITDA growth. The group also benefits as the Australian dollar falls versus the US dollar as it invoices for work in US dollars.

The Kathmandu Holdings Ltd (ASX: KMD) share price is up 15% to $2.67 today after the outdoor adventure apparel and equipment business reported same-store sales were up 6.3% at constant currency exchange rates for the 15 weeks to November 11 2018. Total sales grew 8.4% for the period, excluding the contribution from its recent acquisition of the Oboz business. Overall, it expects first half profit to be “strongly” above last year as it heads into the all-important Christmas trading period.

The Costa Group Holdings Ltd (ASX: CGC) share price is up 5.6% to $6.96 after the fruit and vegetable grower and retailer told investors to expect earnings in calendar year 2019 to be around 30% higher than those delivered in 2018. It also suggested it could achieve “low double digit” net profit growth over a 3 to 5-year period. The stock may be rising today on the back of brokers upgrading their valuations after yesterday’s trading update at its AGM.

The ARB Corporation Limited (ASX: ARB) share price is up 4.2% to $17.26 despite the founder-led 4-wheel-drive automotive parts dealer releasing no specific news to the market. At its October 18 AGM the group reported sales for the first quarter of 2019 were up, however the pace of growth was slower than the prior corresponding quarter. It also suggested the US / China “trade war” was creating confusion that was impacting demand for some of its products and services as a lot of its goods come from Asia.

JUST RELEASED: Our Top 3 Dividend Bets for 2019

NEW! The Motley Fool’s team of crack analysts has just released a timely report revealing the names and codes of their top 3 dividend share recommendations for 2019. Be among the first investors to get access—FREE, for a strictly limited time. You’ll discover the names of 3 hefty dividend paying companies with what our analysts consider to be solid growth prospects for the year ahead…

The first two offer fat, fully franked yields and the third is a surprising REIT offering you the chance to become a landlord with none of the hassle! If you’re looking for hot new ideas, look no further. But you do need to hurry. Snap up your free copy now, before supplies run out!

Simply click here to grab your FREE copy of this up-to-the-minute research report on our top 3 dividend share recommendations right away.

Motley Fool contributor Yulia Mosaleva has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO and IPH Ltd. The Motley Fool Australia has recommended ARB 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.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…

Including:

The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!