Why these ASX shares just raced to 52-week highs

Collins Foods Ltd (ASX:CKF) and these ASX shares have just hit 52-week highs or better. Here’s why they are flying high right now…
The post Why these ASX shares just raced to 52-week highs appeared first on The Motley Fool Australia. –

rising asx share price represented by happy woman dancing excitedly

The market may be up over 5% since the start of the year, but a number of shares have performed materially better.

Three ASX shares that have just hit 52-week highs or better are listed below. Here’s why they are flying high:

Collins Foods Ltd (ASX: CKF)

The Collins Foods share price hit a record high of $11.59 today. When the quick service restaurant operator’s shares reached that level, they were up 21% since the start of the year. Investors have been buying the company’s shares since the release of its half year results late last year. Strong demand led to the company reporting an 11.3% increase in revenue compared to the prior corresponding period to $499.6 million. And on the bottom line, underlying net profit after tax came in 15.1% higher at $27.5 million. Collins Foods is due to release its full year results next month. Judging by its share price performance, Investors appear to be expecting a strong result.

Kathmandu Holdings Ltd (ASX: KMD)

The Kathmandu share price climbed to a 52-week high of $1.49 on Monday. Investors have been buying the adventure retailer’s shares since the release of a strong half year result in March. For the six months ended 31 January, Kathmandu reported a 12.9% increase in sales to NZ$410 million and a 19% jump in operating earnings to NZ$48 million. A key driver of this growth was its Rip Curl business, which has helped diversify its offering. Particularly in respect to seasonality.

Moelis Australia Ltd (ASX: MOE)

The Moelis share price reached a 52-week high of $5.85 earlier today. The catalyst for this was the release of the fund manager’s operational update last week. According to the release, during the first four months FY 2021, Moelis has achieved strong net fund inflows of $340 million and grown its assets under management by 7% to $5.8 billion. In addition to this, the company reaffirmed that it expects to report underlying earnings per share growth of 10% to 20% in FY 2021.

Where to 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 are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor James Mickleboro owns shares of Collins Foods Limited. The Motley Fool Australia has recommended Collins Foods Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why these ASX shares just raced to 52-week highs appeared first on The Motley Fool Australia.

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!