3 ASX All Ords stocks hitting new 52-week highs while the market sinks

The All Ordinaries Index is down 1.4%, but these three All Ords stocks are shaking off the selling pressure.

| More on:
Three businesspeople leap high with the CBD in the background.

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

Three S&P/ASX All Ordinaries Index (ASX: XAO) stocks are bucking the broader market sell-off today.

In afternoon trade on Wednesday, the All Ordinaries Index is down a sharp 1.4%.

Stocks are widely under pressure following a steep day of losses overnight in US and European markets and as the crisis enveloping China's struggling property markets only looks to be getting worse.

But none of that is holding back these three ASX All Ords stocks today, as they each notch new 52-week highs.

These ASX All Ords stocks are offering a silver lining today

The first company shaking off the market malaise today is property listings company REA Group Ltd (ASX: REA).

The ASX All Ords stock was up 2% in morning trade, at $162 a share. At the time of writing, shares are swapping hands for $158.96, up a slender 0.1%. Though this still marks a new 52-week high, with shares up 20% since this time last year.

Investors look to be bidding up the REA share price on the back of some positive broker coverage.

REA reported its FY 2023 results on 11 August. While net profits declined 9% year on year to $372 million, this exceeded consensus expectations.

Following on those results, Macquarie analysts lifted their rating on the ASX All Ords share to neutral. The broker has a 12-month share price target of $178 per share. That's some 12% above the current REA share price.

Goldman Sachs also sees potential share price growth ahead, with a buy rating on REA and a 12-month price target of $175 per share.

Which brings us to SG Fleet Group Ltd (ASX: SGF).

Shares in the fleet management company are up 1.1% in afternoon trade, to $2.72.

The ASX All Ords share earlier posted gains of more than 2%, with shares trading at 52-week highs of $2.75 apiece.

The last price-sensitive news out from SG Fleet was way back on 14 February, when the company reported half-year results. Those included a 41% year on year increase in half-year profits, which came in at $42 million.

Investor interest may be piqued today after the company announced it will webcast its full-year FY 2023 results next Wednesday, 23 August.

Also setting new 52-week highs

Rounding off the list of ASX All Ords share notching new 52-week highs today despite the sliding market is Regis Healthcare Ltd (ASX: REG).

Shares in the elderly care provider were up 2% at $2.47 apiece in earlier trade. The share price has retreated since then, with the stock currently trading flat at $2.42 a share.

There's no fresh news out from Regis to support its outperformance today.

Though healthcare stocks are performing marginally better than the wider market. The S&P/ASX 200 Healthcare Index (ASX: XHJ) is down 1% at the time of writing, compared to a 1.4% loss posted by the All Ords.

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended REA Group. The Motley Fool Australia has recommended REA Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on 52-Week Highs

Three satisfied miners with their arms crossed looking at the camera proudly
Resources Shares

Major ASX 200 mining shares hit 52-week highs

BHP, Fortescue, and Rio Tinto shares set new 52-week highs today.

Read more »

Concept image of a businessman riding a bull on an upwards arrow.
52-Week Highs

2 ASX 200 mining stocks smashing new 52-week highs on Thursday

Investors just sent these two ASX 200 mining stocks rocketing to one-year-plus highs. But why?

Read more »

A female sharemarket analyst with red hair and wearing glasses looks at her computer screen watching share price movements.
Materials Shares

ASX lithium shares outperform as ASX 200 tumbles to four-month low

Several ASX lithium shares have hit new 52-week highs amid the broader market tumbling to a four-month low.

Read more »

Concept image of a businessman riding a bull on an upwards arrow.
Materials Shares

6 ASX lithium shares streak to new 52-week highs

Six ASX lithium shares including Pilbara Minerals have reset their 52-week highs due to rising commodity values.

Read more »

A bearded man holds both arms up diagonally and points with his index fingers to the sky with a thrilled look on his face over these rising Tassal share price
52-Week Highs

Why are Core Lithium shares soaring 27% to a 52-week high today?

Core Lithium shares have new momentum due to higher lithium prices and an update released this week.

Read more »

A young man wearing a black and white striped t-shirt looks surprised.
Materials Shares

IGO share price rips 16% and leads the market today

IGO shares hit a new 52-week high today, as did Pilbara Minerals, Liontown Resources, and Core Lithium.

Read more »

Hands reaching high for a trophy with a sunset in the background.
52-Week Highs

4 ASX 200 stocks rocking new 52-week-plus highs on Thursday

These four ASX 200 stocks just smashed new one-year-plus highs. Here’s why.

Read more »

A beautiful ocean vista is shown with a woman whose back is to the camera holding her arms up in triumph as she stands at the top of a rock feeling thrilled that ASX 200 shares are reaching multi-year high prices today
52-Week Highs

5 ASX 200 stocks smashing 52-week-plus highs on Tuesday

Investors just sent these five ASX 200 stocks soaring to multi-year highs. But why?

Read more »