These were the best performing ASX 200 shares last week

It was a great week for these ASX 200 shares…
The post These were the best performing ASX 200 shares last week appeared first on The Motley Fool Australia. –

The S&P/ASX 200 Index (ASX: XJO) was on form last week and pushed higher. The benchmark index rose 74.8 points or 1% over the period to end at 7,348.1 points.

While a good number of ASX 200 shares climbed higher with the market, some climbed more than most. Here’s why these were the best performers on the index last week:

Spark Infrastructure Group (ASX: SKI)

The Spark share price was the best performer on the ASX 200 last week with a gain of 17.4%. The catalyst for this was the energy network operator receiving and then rejecting a takeover approach. Spark revealed that it received a conditional and non-binding indicative proposal from Ontario Teachers’ Pension Plan Board (OTPP) and Kohlberg Kravis Roberts & Co (KKR) of $2.70 cash per share. The Spark Board believes it undervalues the company.

NRW Holdings Limited (ASX: NWH)

The NRW share price wasn’t far behind with a gain of 16.5% over the week. This was driven by news that Boggabri Coal Operations has exercised an option to acquire the majority of the major mining equipment of NRW’s Golding Contractors. The equipment will be sold for ~$81 million, of which ~$64 million will pay down asset financing debt. This went down well with analysts at Macquarie. In response they retained their outperform rating and $2.10 price target on the company’s shares.

Perenti Global Ltd (ASX: PRN)

The Perenti share price was on form and charged 12.3% over the five days. This was despite there being no news out of the mining services company. Though, the company was the subject of a positive broker note out of Macquarie. Its analysts retained their outperform rating and lifted their price target to 95 cents. The broker believes Perenti’s work in hand and order book will support strong free cash flow and underpin a generous dividend.

ARB Corporation Limited (ASX: ARB)

The ARB share price was a strong performer last week and jumped 12.2%. Investors were buying the 4×4 parts manufacturer’s shares following the release of a market update. According to the release, ARB achieved a 33.9% increase in unaudited sales revenue to $623 million in FY 2021. Things were even better on the bottom line thanks to margin expansion. The company expects its profit before tax to be within the range of $145 million to $150 million. This will be an increase of 85.5% to 92% on FY 2020’s profit before tax of $78.1 million.

The post These were the best performing ASX 200 shares last week appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

More reading

These were the worst performing ASX 200 shares last week

ASX 200 up, Evolution Mining drops, Appen rises

Here are 3 heavily traded ASX 200 shares today

Why the BlueScope (ASX:BSL) share price could be set to jump higher
ASX 200 midday update: Rio Tinto update disappoints, Evolution sinks

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended ARB Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!