The S&P/ASX 200 is up 49.7 points at the time of writing and these three shares have hit 52-week highs.
Here's some insight into why.
Corporate Travel Management Ltd (ASX: CTD)
Shareholders in travel management solutions company Corporate Travel Management Ltd have enjoyed a good few years and the stock looks set to continue its growth pattern for now.
Corporate Travel shares surged to a 52-week high of $28.67 on July 16 before slipping back slightly on July 17, but are up 0.6% to $28.56 at the time of writing.
Corporate Travel has bolstered its underlying business through a succession of smaller travel business acquisitions, most recently with the bolt on of 75.1% of Hong Kong-based Lotus Travel for $50 million with up to $6.6 million in conditional performance payments.
News the company will likely beat its EBITDA guidance for FY18 when its results are released in August is another tick for travel industry investors who have had to withstand some more tumultuous ups and downs with the likes of Flight Centre Travel Group Ltd (ASX: FLT).
Things look rosy for the time being for Corporate Travel, especially if it continues to develop its global reach.
Noni B Limited (ASX: NBL)
Small cap women's fashion retailer Noni B Limited has been flying of late, with its shares opening down today after hitting a 52-week high to close off July 17 at $3.32.
The Noni B share price has risen 80% over the last 12 months with a trading update last week revealing the company has achieved a 15% boost in sales for FY18 from $316.8 million in FY17 to $364 million.
Noni B has an EBITDA forecast of $37 million for FY18 off the back of its strong sales results, with the company's online sales beginning to account for a larger proportion of overall sales across its network of 641 stores.
Wilsons named Noni B as a "buy" in June after its acquisition of five household name brands from Speciality Fashion Group Ltd (ASX: SFH) and the future looks bright for the company with a forecast turnover of $892 million for FY19.
Smartgroup Corporation Ltd (ASX: SIQ)
Shares in outsourced administration and salary packaging company Smartgroup Corporation Ltd are up 1.4% to $12.40 at the time of writing – a 52-week high for the stock and a rise of 70% from its share price of $7.28 at this time last year.
So what has this $1.6 billion market cap company been doing right?
For a start, Smartgroup provides fleet management services to State and Federal Government departments – a fairly solid contract to hold.
Ord Minnett was attracted to the stock earlier in the year after it completed a $78.4 million capital raising, and the company has well and truly exceeded the $11.55 price target set at the time.
Investors are expecting further acquisitions from Smartgroup after it picked up AccessPay, Aspire and RACV salary solutions in 2017.
But competition is fierce in the salary packaging space, with McMillan Shakespeare Limited (ASX: MMS) flexing its muscles with its share price up 0.7% to $16.12 at the time of writing.
