The Motley Fool

Why BWX, Coles, & Nufarm shares just zoomed to 52-week highs

Although the market ended the day lower on Monday, that didn’t stop a number of shares from racing higher.

Three shares that managed to climb to 52-week highs or better are listed below. Here’s why they are on a high right now:

The BWX Ltd (ASX: BWX) share price reached a 52-week high of $4.17 on Monday before ending the day lower. Investors have been buying the personal care products company’s shares since the release of its full year results in August. Although the company behind the Sukin brand reported a 50% decline in profits, its performance in the second half caught the eye of investors. As did management’s guidance for 25% revenue growth and 25% to 35% EBITDA growth for FY 2020. This appears to be a sign that the company is over the worst of its issues now, much to the dismay of the short sellers that were targeting it.

The Coles Group Ltd (ASX: COL) share price continued its positive run and reached a record high of $15.40 yesterday. The supermarket giant’s shares have been on fire this year thanks to the return of rational competition in the industry, a strong full year result, and the launch of its refreshed strategy at its investor day event in June. It was arguably the latter that has had the biggest impact on its share price performance. This strategy has got investors excited as it will see the company aim to deliver $1 billion in cumulative savings by FY 2023.

The Nufarm Limited (ASX: NUF) share price rocketed to a 52-week high of $6.60 on Tuesday as short sellers scrambled to buy back shares to close positions following the release of the agricultural chemicals company’s full year results and the announcement of the sale of its South American business. Nufarm posted $420 million in EBITDA, which was in line with its guidance. Also spooking short sellers was management speaking positively about FY 2020. It believes it is well-placed for growth, especially after the sale of its South American business. The funds from the ~$1.2 billion sale are going to be used to pay down debt and in areas with the potential for stronger returns.

Missed these gains? Then don't miss out on these hot stocks that could be next in line for strong gains.

NEW. Five Cheap and Good Stocks to Buy in 2020….

Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.8% fully franked yield...

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

CLICK HERE FOR YOUR FREE REPORT!

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

NEW. Five Cheap and Good Stocks to Buy in 2019…

Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.8% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

CLICK HERE FOR YOUR FREE REPORT!