The S&P/ASX All Ordinaries Index (ASX: XAO) may be up a muted 0.5% but these shares are having a far more impressive day with each one reaching new all-time high prices.
Let's look at what might be driving investor enthusiasm for these outstanding ASX All Ordinaries performers.
Endeavour Group Ltd (ASX: EDV)
This is the fifth time this week that the Endeavour share price has hit an all-time high. It's currently up 0.52% at $7.70 but it reached a new record high of $7.73 in earlier trading. The ASX All Ordinaries stock has gained 12% in just 30 days.
Endeavour shares have been riding high since mid-February when the retail drinks and hotel operator reported a 15% increase in net profit after tax (NPAT) in its FY22 half-year earnings. The news prompted ASX investors to bid up the Endeavour share price by 11% in one day.
Endeavour is benefitting from the end of COVID-19 lockdowns and restrictions while simultaneously reaping the rewards of the structural shift in retail to more online shopping induced by the pandemic.
Goldman Sachs analyst Lisa Deng has a buy rating on Endeavour and a share price target of $8.
Zimplats Holdings Ltd (ASX: ZIM)
Next is Zimplats, up 6.24% to $30.81 despite no news from the Zimbabwe miner today. Earlier, the company's shares reached $32.44, an impressive 11.8% gain on yesterday's closing price of $29.
It's a safe bet that continuing strength in commodity prices has something to do with the support Zimplats is getting from ASX investors. The stock is up by 33% this year to date.
The value of the platinum metals that Zimplats digs out of the ground has been soaring of late.
Like many other commodities, the price of precious metals has increased on the back of Russia's invasion of Ukraine. This is particularly the case with platinum and palladium. As my Fool colleague Brooke points out, Russia is responsible for a hefty chunk of the world's palladium production.
Graincorp Ltd (ASX: GNC)
Our final ASX All Ordinaries outperformer today is Graincorp, up 5.87% to $9.20 after the company announced an FY22 earnings guidance upgrade and released a trading update.
As fellow Fool James reported this morning, the grains exporter was previously guiding underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) of $480 million to $540 million and underlying net profit after tax (NPAT) of $235 million to $280 million. Now it's expecting underlying EBITDA of $590 million to $670 million and underlying NPAT of $310 million to $370 million.
ASX investors reacted strongly to the news, sending the Graincorp share price to an all-time high of $9.46 during earlier trading. That's an 8.86% bump on yesterday's closing price of $8.69.
ASX All Ordinaries recap
The ASX All Ordinaries index is down 2% in 2022 but up 7.2% over the past 12 months.
