These were the best performers on the ASX 200 last week

Collins Foods Ltd (ASX:CKF) and Harvey Norman Holdings Limited (ASX:HVN) shares were among the best performers on the ASX 200 last week…

A young man pointing up looking amazed, indicating a surging share price movement for an ASX company

Image source: Getty Images

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

The S&P/ASX 200 Index (ASX: XJO) was out of form last week and dropped 0.9% over the period to end at 6,708.2 points.

Fortunately, not all shares dropped lower with the index. Here's why these were the best performers on the ASX 200 last week:

Collins Foods Ltd (ASX: CKF)

The Collins Foods share price was the best performer on the ASX 200 last week with a sizeable 19.1% gain. This was despite there being no news out of the quick service restaurant operator. However, with its shares trading at a significant discount to rival Domino's Pizza Enterprises Ltd (ASX: DMP), some investors may believe a rerating was due. Even after this strong gain, the Collins Foods share price is trading at 28x estimated FY 2021 earnings. This compares to 44x FY 2021 earnings for Domino's.

Clinuvel Pharmaceuticals Limited (ASX: CUV)

The Clinuvel share price was some way behind as the next best performer with a gain of 11.8%. Once again, this was despite there being no news out of the biopharmaceutical company last week. However, earlier this month analysts at Moelis put a buy rating and $27.77 price target on the company's shares. The Clinuvel share price ended the week a touch higher than this at $28.29.

Harvey Norman Holdings Limited (ASX: HVN)

The Harvey Norman share price was on form last week with a 9.7% gain. This gain appears to have been driven by a couple of recent broker notes which spoke positively about the retailer. A week earlier both Macquarie and Citi put the equivalent of buy ratings and $6.00 price targets on the company's shares. The Harvey Norman share price ended the week at this level having touched on a multi-year high of $6.06 briefly on Friday.

Link Administration Holdings Ltd (ASX: LNK)

The Link share price was a strong performer and recorded a gain of 9.3% last week. This appears to have been driven by speculation that the administration services company could be the subject of a new takeover approach in the near future. This follows the breakdown in takeover talks with SS&C Technologies earlier this year.

James Mickleboro owns shares of Collins Foods Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Link Administration Holdings Ltd. The Motley Fool Australia has recommended Collins Foods Limited, Dominos Pizza Enterprises Limited, and Link Administration Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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 »