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

Good news has these businesspeople cheering for joy, partying in a board room.
Bank Shares

2 uniquely Australian reasons why ASX 200 bank shares are outperforming global peers

Three of the Big Four ASX 200 bank shares hit new price milestones today.

Read more »

Delighted adult man, working on a company slogan, on his laptop.
Bank Shares

NAB share price hits 9-year high amid yet another strong day for ASX 200 banks

Bank stocks just keep on rising...

Read more »

Man raising both his arms in the air with a piggy bank on his lap, symbolising a record high.
Bank Shares

Westpac and three other ASX 200 bank shares smashing new multi-year highs today

If you own ASX bank shares, you're probably having a great day.

Read more »

A woman reclines in a comfortable chair while she donates blood holding a pumping toy in one hand and giving the thumbs up in the other as she is attached to a medical machine to collect her blood donation.
Healthcare Shares

CSL shares hit new 52-week high! What's next?

These ASX experts reckon CSL investors are still in for a treat.

Read more »

An older female ASX investor holds a gangster-style fist pump pose showing off gold rings with dollar signs on them.
Gold

Big ASX news: Newmont shares hit new record high

If you own Newmont stock, you're in for a treat today.

Read more »

Three hikers lift their arms in jubilation as they reach a rocky peak overlooking a sensational view of water and mountains with a blue sky surrounding them.
52-Week Highs

2 ASX All Ords shares (and one ETF) smashing new highs while the market sinks

These lucky stocks are bucking the market today.

Read more »

A woman looks questioning as she puts a coin into a piggy bank.
Bank Shares

ASX 200 bank shares 'don't appear overly expensive' compared to global peers: UBS

UBS says clients are asking what they should do with their bank shares following the long share price run.

Read more »

A happy girl in a yellow playsuit with a zip gives the thumbs up
52-Week Highs

Zip shares surge 10%, bringing gains to 55% in a month

It appears recent developments continue being priced in to the BNPL player's stock.

Read more »