Despite the recent market volatility, a number of shares on the Australian share market have managed to continue their strong runs.
Three shares that climbed to 52-week highs or better on Thursday are listed below. Is it too late to invest?
The Audinate (ASX: AD8) share price continued its stellar run and hit an all-time high of $6.10 on Thursday. This latest gain means the shares of the provider of digital Audio-Visual networking technologies have risen a remarkable 90% since this time last year. The catalyst for this has been the increasing demand for its Dante audio over IP networking solution which led to the company posting a 60% increase in revenue to $14.2 million during the first half of FY 2019. Whilst I think that its shares are fully valued now, they could be worth keeping a close eye on.
The BHP Group Ltd (ASX: BHP) share price pushed higher and hit a multi-year high of $38.24 yesterday. The mining giant has been a strong performer in 2019 due to favourable commodity price movements and a better than expected half year result in February. In the first half of FY 2019 BHP posted underlying EBITDA of US$10.5 billion, allowing it to reward shareholders with an interim dividend of 55 U.S. cents per share. Although its shares have climbed strongly over the last 12 months, I still see value in them at current levels. Especially for income investors in search of diversification.
The Harvey Norman Holdings Limited (ASX: HVN) share price hit a 52-week high of $3.89 on Thursday despite the housing market downturn. A surprisingly solid half year result has been the catalyst for its positive share price performance this year. In the first half of FY 2019 the retailer posted a net profit after tax of $222.77 million, up 7.3% on the prior corresponding period. The strong performance of its international operations caught the eye of investors, who appear to believe it could offset weakness in the ANZ market. I'm not a big fan of the company, but feel its shares do look fairly valued.
