These were the best-performing shares on the ASX 200 last week

The Nanosonics Ltd (ASX:NAN) share price and the Nearmap Ltd (ASX:NEA) share price were amongst the best-performers on the ASX 200 last week…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Despite a disappointing end to the week, the S&P/ASX 200 index posted a weekly gain of 1.5% to finish it at 6,650.8 points.

Whilst this was a very strong gain once again, a number of shares performed even better. Here's why these shares were the best performers on the benchmark index last week:

The Emeco Holdings Limited (ASX: EHL) share price was the best performer on the ASX 200 last week with a gain of almost 25%. Investors have been buying the shares of the leading provider of equipment leasing to the earthmoving industry following a very positive trading update a week earlier. That update revealed that Emeco has continued to experience strong demand for its services and expects to deliver operating EBITDA in the range of $211 million to $213 million in FY 2019. This will be an increase of almost 40% on FY 2018's result.

The Nanosonics Ltd (ASX: NAN) share price was the next best performer with a gain of almost 17%. The infection control specialist's shares were on fire last week after being recommended by a fund manager the previous weekend. However, one broker that believes its shares may have peaked is Morgans. According to a note, last week the broker downgraded Nanosonics' shares to a hold rating with an improved price target of $4.99. It made the move on valuation grounds after a strong rally which has seen its shares close the week at $5.75. 

The News Corp (ASX: NWS) share price wasn't far behind with a gain of just under 15%. Investors responded positively to the media company's plans to offload its News America Marketing business as part of its aim to simplify its structure and enhance shareholder value. News Corp believes the potential sale would allow it to focus on its two core pillars – premium news content and digital real estate services.

The Nearmap Ltd (ASX: NEA) share price continued its impressive run and zoomed a further 14.5% higher last week. The catalyst for this latest gain was a broker note out of the Macquarie equities desk last week. According to the note, the broker has initiated coverage on the aerial imagery technology and location data company's shares with an outperform rating and $4.22 price target. Its analysts believe there is a $3 billion opportunity for Nearmap in its existing markets.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Nanosonics Limited and Nearmap Ltd. The Motley Fool Australia has recommended Nanosonics Limited and Nearmap 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.

More on Share Gainers

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Share Gainers

These were the best-performing ASX 200 shares in March

These shares made their shareholders smile in March thanks to some very big gains.

Read more »

Stock market chart in green with a rising arrow symbolising a rising share price.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a massive day for the ASX 200, with a new all-time high recorded.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Technology Shares

This ASX tech stock rocketed 60% in March! Can it keep on delivering?

After soaring in March, the ASX tech stock is now up 169% since this time last year.

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Mesoblast, Newmont, Pilbara Minerals, and Platinum shares are jumping

These ASX shares are ending the week strongly. But why?

Read more »

A young male ASX investor raises his clenched fists in excitement because of rising ASX share prices today
Share Gainers

3 ASX All Ords shares up 50%+ in March

These ASX shares have been on fire this month. But why?

Read more »

Woman looks amazed and shocked as she looks at her laptop.
Share Gainers

Why Mesoblast, Patriot Battery Metals, Sigma, and Zip shares are pushing higher

These shares are having a good session on hump day. But why?

Read more »

Woman looks amazed and shocked as she looks at her laptop.
Consumer Staples & Discretionary Shares

If you'd put $20,000 in this ASX retail stock at the start of 2023, you'd have $134,000 now

This online retailer has executed a remarkable turnaround for its investors.

Read more »

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

It was back to earth for ASX shares this Tuesday.

Read more »