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Is it too late to buy Woolworths and these high flying ASX shares?

Although the market has had a few wobbles this week due to trade war concerns, it hasn’t stopped a number of shares from racing higher.

Three which have climbed to 52-week highs or better are listed below. Is it too late to invest?

The Dicker Data Ltd (ASX: DDR) share price surged to an all-time high of $4.71 on Thursday. Investors have been scrambling to get hold of the shares of Australia’s largest and longest established Australian-owned distributor of information technology products following the release of a very impressive first quarter update. That update revealed that Dicker Data posted a 21.1% increase in first quarter revenue to $386.9 million and profit before tax growth of 46.7% to $13.5 million. This was driven by a strong performance across all its vendor partnerships. I still see a lot of value in its shares at this level and would class it as a buy.

The Orica Ltd (ASX: ORI) share price hit a 52-week high of $20.21 yesterday following the release of a better than expected half year result from the commercial explosives company. In the first half of FY 2019 Orica reported a 12% increase in sales to $2.8 billion and a 35% increase in underlying net profit to $166.7 million. Whilst I was impressed with its return to form, I don’t see a lot of value in its shares at 21x estimated full year earnings.

The Woolworths Group Ltd (ASX: WOW) share price climbed to a multi-year high of $32.90 on Thursday. A return of rational competition in the supermarket industry and a solid third quarter sales update have largely been behind the conglomerate’s strong share price gain this year. In the third quarter of FY 2019 Woolworths posted total sales from continuing operations of $14,898 million, which was a 4.2% increase on the prior corresponding period or 5.1% when adjusting for Easter. Whilst I am a fan of Woolworths and would be a buyer of its shares, I do think Coles Group Ltd (ASX: COL) shares are better value for money.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Coles & Dicker Data 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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