The S&P/ASX 200 index has raced higher again on Wednesday and is up 0.65% to 6,283.7 points in afternoon trade.
Unsurprisingly, with the benchmark index trading around its highest levels of the year, a number of shares have hit 52-week highs today.
Three that have achieved this feat are listed below. Is it too late to invest?
The Breville Group Ltd (ASX: BRG) share price stormed to a 52-week high of $17.70 today. Investors have been fighting to get hold of the appliance manufacturer’s shares this year thanks to the release of an impressive half year result. Breville posted a 15.4% increase in half year revenue to $440 million and a 19.7% lift in net profit to $43.5 million thanks to its successful expansion into Germany and Austria. Management intends to build on this with the launch of its Sage brand into Belgium, the Netherlands, Luxembourg and Switzerland in the second half. The market appears optimistic this expansion will underpin further solid earnings growth in the coming years. If it does, then I suspect that Breville’s shares could yet climb higher from here.
The Collins Foods Ltd (ASX: CKF) share price hit a 52-week high of $7.39 this morning. This latest gain means that the KFC and Taco Bell restaurant operator’s shares have now risen almost 30% since the start of the year. The catalyst for this strong gain appears to have been a positive broker note out of Morgans last month. According to the note, the broker upgraded Collins Foods shares to an add rating from hold and increased the price target on them by almost 13% to $7.78. Its analysts believe that Collins Foods’ KFC operations are performing well domestically and remain optimistic on the prospects of its European expansion. I agree with Morgans view on Collins Foods and think it would be a good option for investors.
The Vita Group Limited (ASX: VTG) share price climbed to a 52-week high of $1.67. The Telstra Corporation Ltd (ASX: TLS) retail store operator’s shares have been on the rise since the release of the retailer’s half year results. For the six months to December 31, Vita posted record revenues of $377 million and EBITDA of $25 million. This was a 14% and 25% increase, respectively, on the prior corresponding period. I think Vita Group’s shares are still relatively good value despite its impressive gain in 2019.
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Motley Fool contributor James Mickleboro owns shares of Collins Foods Limited. The Motley Fool Australia owns shares of and has recommended Telstra Limited. 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.