Why AVITA Medical, Lovisa, & REA Group shares just hit 52-week highs

The REA Group Limited (ASX:REA) share price is one of three that have just hit 52-week highs or better…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

On Thursday the All Ordinaries index returned to form and stormed 0.5% higher to 6,825.2 points.

Given the positive performance of the share market this month, it will come as no surprise to learn that a number of shares have just climbed to 52-week highs or better.

Three which achieved this feat are listed below. Here's why they are on form right now:

The AVITA Medical Ltd (ASX: AVH) share price continued its positive run and hit a multi-year high of 61.5 cents on Thursday. Investors have been fighting to get hold of the regenerative medicine company's shares this year thanks to the success of its RECELL System. It is used to prepare Spray-On Skin Cells using a small amount of a patient's own skin, which provides a new way to treat severe burns. This week the company announced a trial to test its effectiveness for the treatment of acute full-thickness skin defect. If successful this would increase its addressable market materially.

The Lovisa Holdings Ltd (ASX: LOV) share price rose again and reached an all-time high of $13.39 yesterday. The jewellery retailer's shares have been charging higher since the release of its full year results last month. Lovisa overcame tough retail conditions to deliver a 15.3% increase in revenue to $250.3 million and a 7.1% lift in EBITDA to $62.3 million. Investors also appear confident with the company's international expansion plans, particularly in the massive U.S. market.

The REA Group Limited (ASX: REA) share price reached an all-time high of $109.64 on Thursday. The property listings company's shares have been charging higher again this month after the release of positive housing market data. Earlier this month the Australian Bureau of Statistics advised that the value of new loans issued to households increased the most in five years by 3.9% to $32 billion in July. This could be a sign that the housing market rebound has started, which could mean that REA Group soon experiences an acceleration in listings volumes growth.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended REA Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on 52-Week Highs

A cloud with a blue arrow pointing upwards through its middle symbolising a rising asx share price
52-Week Highs

7 ASX 200 shares smashing new highs on Tuesday

Here's why these companies are hitting new 52-week highs on Tuesday.

Read more »

Hands reaching high for a trophy with a sunset in the background.
52-Week Highs

6 ASX 200 shares smashing new highs while the market dives today

Do you own any of these lucky ASX 200 stocks?

Read more »

A woman wearing a top of gold coins and large gold hoop earrings and a heavy gold bracelet stands amid a shower of gold coins with her mouth open wide and an excited look on her face.
Gold

14 ASX gold stocks unearthing fresh 52-week highs today

Do you own any of these hot gold miners?

Read more »

An older female ASX investor holds a gangster-style fist pump pose showing off gold rings with dollar signs on them.
52-Week Highs

These 16 ASX 200 shares are hitting new 52-week highs today even as the market sinks

Do you own any of these lucky stocks?

Read more »

A man clenches his fists in excitement as gold coins fall from the sky.
Gold

Why this $9.6 billion ASX 200 gold stock is smashing the market today

This gold miner has hit a 52-week high on Wednesday. What's going on?

Read more »

Excited group of friends sitting on sofa watching sports on TV and celebrating.
ETFs

4 ASX ETFs that hit new 52-week highs today

These ETFs provide exposure to the gold price and companies in emerging markets.

Read more »

Two happy scientists analysing test results.
52-Week Highs

3 ASX All Ords health care shares that reached 52-week peaks today

These health care companies finished the week on a positive note.

Read more »

group of friends jump on the beach
52-Week Highs

6 ASX 300 shares that hit new 52-week highs today

Here's why these companies stood out in an otherwise lacklustre day of trading.

Read more »