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Why these 3 ASX 200 stocks just hit 52-week highs

The S&P/ASX 200 Index closed 114.7 points or 1.95% higher to 6005.9 points on Tuesday.

These three ASX 200 shares all hit 52-week highs.

Appen Ltd (ASX: APX)

WAAAX stock Appen Ltd shares hit an all-time high earlier today of $17.44 after a blistering start to the year has seen the stock gain 36% year-to-date. The leading provider of data for AI and machine learning has demonstrated strong momentum in the new year alongside a solid comeback by the broader ASX 200 Information Technology sector, which has returned 9.9% YTD as opposed to a 4.4% gain by the ASX 200 index.

Growth prospects like those of Appen don’t come cheap; the stock is currently trading on a forward earnings PE ratio of 45, according to S&P CapitalIQ (and a trailing twelve months PE of 89!).

G8 Education Ltd (ASX: GEM)

G8 Education shares hit a 52-week high today of $3.44. As Australia’s largest listed child care centre operator, G8 owns and operates more than 470 early learning education centres around Australia.

After a terrible period for investors in late 2017 and most of 2018, G8 has managed to turn around its fortunes. The successful execution of its debt financing agreements, as well as an exceedingly positive trading update, have vastly improved market sentiment around the stock, which has risen 70% in three months.

GPT Group (ASX: GPT)

Australian real estate investment trust (A-REIT) GPT Group shares also reached a 52-week high today of $5.97. GPT is one of Australia’s largest diversified listed property groups with a market capitalisation of $10.6 billion. The group’s portfolio consists of high-quality retail, office and logistics properties around Australia.

GPT announced in January that it intends to sell its 50% stake in the MLC Centre on Martin Place in an effort to reduce its exposure to the Sydney office market. Some analysts estimate the 67-storey tower could be worth a price tag in excess of $800 million.

Where to invest $1,000 right now

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Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of June 30th

Motley Fool contributor Cale Kalinowski has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Appen Ltd. 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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