The All Ordinaries index has been on form again this week thanks to easing trade war tensions and improving investor sentiment.
Whilst this has led to a large number of shares pushing higher, some have managed to climb more than most.
Three shares which have just reached new 52-week highs or better are listed below. Here's why they are on form right now:
The Baby Bunting Group Ltd (ASX: BBN) share price reached a record high of $3.45 yesterday. When the baby products retailer's shares hit that level it meant they had gained an impressive 45% since the start of the year. A key driver of this strong rise was the release of its full year result last month. In FY 2019 Baby Bunting returned to form and delivered a 19% increase in total sales to $362.3 million and net profit after tax growth of 58.2% to $15.1 million. This was driven largely by a reduction in competition and discounting activities. More of the same is expected in FY 2020, with management providing net profit after tax growth guidance of up to 46%.
The Coca-Cola Amatil Ltd (ASX: CCL) share price climbed to a 52-week high of $11.25 on Thursday. Investors have been picking up the beverage company's shares this week following the announcement of changes to its organisational structure which it believes will play a role in its two-year transition phase which aims to return the company to mid-single digit earnings per share growth from 2020. Judging by the share price reaction, investors appear confident this has positioned Coca-Cola Amatil to achieve its targets and return to solid growth after a mixed few years. In addition to this, with a trailing 4.6% dividend yield on offer with its shares, they have proven popular with income investors in this low interest rate environment.
The Coles Group Ltd (ASX: COL) share price reached a record high of $15.16 yesterday. Investors have been fighting to get hold of the supermarket giant's shares this year thanks to the return of rational competition, a strong full year result, and the unveiling of its refreshed strategy at its investor day event in June. In respect to the latter, this strategy will see the company deliver $1 billion in cumulative savings by FY 2023.
