3 ASX stocks that hit 52-week highs on Tuesday

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The S&P/ASX 200 Index closed marginally higher on Tuesday, up 9.2 points or 0.15% to 6,054.40 points.

These 3 ASX shares have all hit 52-week highs this week. 

Qantas Airways Limited

Qantas Airways Limited (ASX:QAN) shares closed 1.39% higher at $6.57 on Tuesday, after hitting a 52-week high of $6.58 just before the closing bell.

Qantas shares jumped higher in early May after the airline said it expects to post a record pre-tax profit of between $1.55 billion and $1.60 billion, which would beat the record $1.5 billion it made in 2016 and comfortably exceed last year’s $1.4 billion.

A top fund manager, Firetrail Australian High Conviction Fund, said recently that despite the strong historical gains for the Qantas Airways share price, it believes the company still shows “compelling upside.”

Over the last 12 months, the Qantas Airways Limited share price traded as low as $4.77 and as high as $6.58. Qantas Airways Limited’s share price has risen 22.74% over the period.

Costa Group Holdings Ltd

The Costa Group Holdings Ltd (ASX:CGC) share price jumped 4.11% higher on Tuesday, closing the session at $8.36 after hitting another 52-week high of $8.42 just after midday.

Last week UBS reiterated its Buy rating for Costa Group, saying it believes the horticultural company’s FY18 guidance is conservative and estimates strong growth over the next five years in the company’s berry and avocado category, after touring its FNQ operations, as well as its China expansion projects.

Over the last 12 months, the Costa Group Holdings Ltd share price traded as low as $4.64 and as high as $8.42. Costa Group Holdings Ltd’s share price has risen 77.85% over the period.

Appen Ltd

Appen Ltd (ASX:APX) shares closed 3.88% higher on Tuesday at $12.04, after earlier hitting a 52-week high of $12.08

Last week, the S&P Dow Jones Indices released the changes to its S&P/ASX indices, announcing that the artificial intelligence and machine learnings dataset provider’s shares are to be added to the S&P/ASX 200, effective at the open of trading on June 18, 2018.

Over the last 12 months, the Appen Ltd share price traded as low as $3.73 and as high as $12.08. Appen Ltd’s share price has risen almost 220% over the period. 

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Contributors to this article may own shares in some of the companies mentioned in this article. The Capital Club has a thorough disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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Lauren Surplice is a keen follower of the stock market, investing in individual companies and funds. She follows the daily stock market news, covering the ASX stocks that are moving the markets. You can contact Lauren at laurens@thecapitalclub.com.au