The market may have tumbled lower on Tuesday, but that didn't stop some shares from pushing higher.
Three which even managed to climb to 52-week highs are listed below. Here's why they are on form right now:
The Austal Limited (ASX: ASB) share price climbed to an all-time high of $4.63 on Tuesday. When the shipbuilder's shares reached that level, they had gained a remarkable 140% since the start of the year. The catalyst for this was an impressive performance in FY 2019 thanks largely to its US shipyard business which is building a number of military vessels for the US Navy. In FY 2019 Austal delivered a massive 64% increase in net profit to $61.4 million. Pleasingly, more growth is expected in FY 2020 with management providing earnings before interest and tax guidance of at least $105 million. This will be a year on year increase of 13%.
The Baby Bunting Group Ltd (ASX: BBN) share price reached a multi-year high of $3.20 yesterday. Investors have been buying the baby products retailer's shares since the release of a strong full year result last month. In FY 2019 Baby Bunting returned to form and delivered a 19% increase in total sales to $362.3 million and net profit after tax growth of 58.2% to $15.1 million. A reduction in competition and discounting activities were behind this strong increase. The good news is that management expects more of the same in FY 2020 and has provided net profit after tax growth guidance of up to 46%.
The iSignthis Ltd (ASX: ISX) share price continued its incredible run and reached a new all-time high of $1.76 on Tuesday. Investors have been scrambling to buy the payments company's this year due to its impressive growth in gross processing transaction volume (GPTV). This positive form continued in August with management reporting that its GPTV exceeded $1.1 billion. This was a whopping 160% increase on its GPTV just two months earlier at the end of June. This has got investors excited that iSignthis could be Australia's answer to PayPal.
