These were the best performers on the ASX 200 last week

Collins Foods Ltd (ASX:CKF) and Harvey Norman Holdings Limited (ASX:HVN) shares were among the best performers on the ASX 200 last week…

A young man pointing up looking amazed, indicating a surging share price movement for an ASX company

Image source: Getty Images

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

The S&P/ASX 200 Index (ASX: XJO) was out of form last week and dropped 0.9% over the period to end at 6,708.2 points.

Fortunately, not all shares dropped lower with the index. Here's why these were the best performers on the ASX 200 last week:

Collins Foods Ltd (ASX: CKF)

The Collins Foods share price was the best performer on the ASX 200 last week with a sizeable 19.1% gain. This was despite there being no news out of the quick service restaurant operator. However, with its shares trading at a significant discount to rival Domino's Pizza Enterprises Ltd (ASX: DMP), some investors may believe a rerating was due. Even after this strong gain, the Collins Foods share price is trading at 28x estimated FY 2021 earnings. This compares to 44x FY 2021 earnings for Domino's.

Clinuvel Pharmaceuticals Limited (ASX: CUV)

The Clinuvel share price was some way behind as the next best performer with a gain of 11.8%. Once again, this was despite there being no news out of the biopharmaceutical company last week. However, earlier this month analysts at Moelis put a buy rating and $27.77 price target on the company's shares. The Clinuvel share price ended the week a touch higher than this at $28.29.

Harvey Norman Holdings Limited (ASX: HVN)

The Harvey Norman share price was on form last week with a 9.7% gain. This gain appears to have been driven by a couple of recent broker notes which spoke positively about the retailer. A week earlier both Macquarie and Citi put the equivalent of buy ratings and $6.00 price targets on the company's shares. The Harvey Norman share price ended the week at this level having touched on a multi-year high of $6.06 briefly on Friday.

Link Administration Holdings Ltd (ASX: LNK)

The Link share price was a strong performer and recorded a gain of 9.3% last week. This appears to have been driven by speculation that the administration services company could be the subject of a new takeover approach in the near future. This follows the breakdown in takeover talks with SS&C Technologies earlier this year.

James Mickleboro owns shares of Collins Foods Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Link Administration Holdings Ltd. The Motley Fool Australia has recommended Collins Foods Limited, Dominos Pizza Enterprises Limited, and Link Administration Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Gainers

Market up or down
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors had a rough end to the week...

Read more »

Man in an office celebrates at he crosses a finish line before his colleagues.
Share Gainers

4 ASX 200 shares racing ahead of the benchmark this week

ASX investors sent these four stocks soaring 12% to 18% this week. But why?

Read more »

Man pointing an upward line on a bar graph symbolising a rising share price.
Share Gainers

Why BHP, Coronado Global, EBR Systems, and Whitehaven Coal shares are pushing higher today

These shares are ending the week on a positive note. Let's find out why.

Read more »

a young woman looks happily at her phone in one hand with a selection of shopping bags in her other hand.
BNPL shares

Up 87% since April, why the Zip share price can keep flying higher into 2026

A leading fund manager expects more outsized gains from Zip shares ahead.

Read more »

Person pretends to types on laptop drawn in sand.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a miserly session for investors today.

Read more »

Happy coal miner.
Share Gainers

Up 75% this week, why is this ASX All Ords stock rocketing again today?

Investors are piling into this ASX 300 stock on Wednesday. But why?

Read more »

A young woman smiles as she rides a zip line high above the trees.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a bountiful session for investors this hump day.

Read more »

Man looking happy and excited as he looks at his mobile phone.
Share Gainers

Why Coronado, DroneShield, Lovisa, and Mayne Pharma shares are racing higher today

These shares are having a good time on hump day. But why?

Read more »