The S&P/ASX 200 index returned to form on Thursday with the majority of shares on the index pushing higher.
A number of them climbed more than most and some even reached 52-week highs or better. Three shares which accomplished this are listed below. Is it too late to invest?
The Credit Corp Group Limited (ASX: CCP) share price continued its positive form and climbed to an all-time high of $29.40. Investors have been buying the debt collector’s shares following a solid performance in FY 2019 and a recent acquisition announcement. In respect to the latter, last month Credit Corp agreed to acquire Baycorp Holdings for ~A$65 million. Management advised that the acquisition “will produce earnings growth in the core Australian and New Zealand debt buying business to complement strong growth from the company’s US debt buying and consumer lending segments.” As a result, it upgraded its net profit after tax growth guidance for FY 2020 to be in the range of 15% to 18% from its prior guidance of 7% to 10%. Although its shares have gone on a solid run, I think they still look decent value given its guidance.
The Jumbo Interactive Ltd (ASX: JIN) share price climbed to a new record high of $23.84 on Thursday. This latest gain means the lottery ticket seller’s shares have more than tripled in value since the start of the year. Investors have been scrambling to buy its shares after yet another strong performance in FY 2019. Jumbo impressed the market by more than doubling its full year net profit after tax to $26.4 million thanks to strong customer growth and engagement and increased large jackpot activity. Whilst I’m a big fan of Jumbo, I think its valuation is looking a touch stretched now.
The Kogan.com Ltd (ASX: KGN) share price reached a 52-week high of $6.56 yesterday. The ecommerce company’s shares have been on fire since the release of its full year results in August. Those results revealed that Kogan had a very strong finish to FY 2019 after a shaky start, leading to the company reporting a 12% lift in gross sales to $551.8 million and a 21.9% increase in NPAT to $17.2 million. Pleasingly, this strong form appears to have carried over into FY 2020 with the company reporting gross sales growth of 18.3% and gross profit growth of 32% during the month of July. Although its shares are no longer a bargain buy, I still think they look great value for a long term investment.
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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 and recommends Jumbo Interactive Limited. The Motley Fool Australia has recommended Jumbo Interactive Limited and Kogan.com 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.