The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a reasonably mixed time so far in 2017, managing to carve out a small 1.5% gain year-to-date.
Three leading shares haven't let that hold them back and just yesterday they managed to reach new 52-week highs. Here's why:
The a2 Milk Company Ltd (Australia) (ASX: A2M) share price hit another all-time high of $2.76 yesterday. As well as a stunning half-year result which saw the fast-growing dairy company report a massive 290% increase in net profit after tax to NZ$39.4 million, investors have been fighting to get hold of its shares since Chinese officials announced that they have delayed their new cross border e-commerce laws indefinitely. Despite its rise, I see a lot of value in its shares for long-term buy and hold investors.
The GUD Holdings Limited (ASX: GUD) share price climbed to a 52-week high of $11.47 on Monday. This means the retail conglomerate's share price has now rallied by as much as 66% in the last 12 months. Despite a mixed performance across the company's many businesses, investors appear to believe that CEO Jonathan Ling will deliver on a strong second-half. In its half-year results Mr Ling reaffirmed full-year guidance of underlying EBIT of around $85 million, up from $80.8 million in FY 2016.
The NIB Holdings Limited (ASX: NHF) share price stormed to an all-time high of $5.86 yesterday. Investors appear to be impressed with the way the company continues to win market share and deliver policyholder growth. NIB Holdings recently reported a 65% increase in its half-year net profit after tax to $71.1 million, compared to $43.1 million in the prior corresponding period. Whilst I've been impressed with the company's performance this year, at almost 21x trailing earnings I think NIB is looking fully valued now.
