ASX 200 stocks hitting fresh 52-week highs and lows – Week 38
Banks and real estate stocks continue to mark into record territory while struggling energy and miners begin to stabilise.
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Mentioned
KEY POINTS
- Major banks including Westpac, ANZ, NAB and Macquarie all hit a fresh 52-week high last week
- The Fed's unexpected 50 bp rate cut and easing bond yields has helped REITs including Scentre Group, Stockland and GPT Group rally into yearly highs
- Downward spiraling Energy and Materials stocks showed signs of stabilisation last week. Is this a genuine low or will factors like weak Chinese economic data continue to drag the sector to new lows
Welcome back to the 52-week Series – A recap of ASX 200 stocks that have tagged a fresh yearly highs and lows in the past week.
52-Week Highs and Lows by Sector
Financials: 10 Highs, 1 Low
Real Estate: 10 Highs, 0 Lows
Industrials: 6 Highs, 2 Lows
Materials: 5 Highs, 0 Lows
Technology: 4 Highs, 1 Low
Discretionary: 3 Highs, 0 Lows
Health Care: 3 Highs, 0 Lows
Staples: 1 High, 1 Low
Telecommunication: 0 Highs, 1 Low
Energy: 0 Highs, 1 Low
Utilities: 0 Highs, 0 Lows
What Does the Data Tell Us
Financials continue to run: The S&P/ASX 200 Financials Index marked approximately 17 record weekly closes this year. Analysts have maintained a cautious outlook on the sector due to high valuations and potential risks if economic conditions shift unfavorably. The continuing rally in bank stocks forced several analysts to upgrade their target prices and ratings last week, with the underpinned by better-than-expected operating trends, willingness by investors to pay for strong balance sheet and safe-haven status. I guess this is one of this situations where the trend is your friend (until it isn't).
Yields down, real estate up: The S&P/ASX 200 Real Estate Index has rallied for three consecutive weeks, setting record highs in the last two. The surge has been underpinned by easing bond yields and growing rate cut expectations, which results in lower borrowing costs for leveraged REITs, lifts property valuations and makes their dividends more attractive.
Lows begin to stabilise: Materials and Energy stocks have dominated the 52-week lows list, recording a respective 13 and 10 lows last week. However, the decline has somewhat stabilised, supported by factors such as the Fed's 50 bp rate cut decision and growing soft-landing optimism. Despite this stabilisation, concerns remain about whether this is merely a dead cat bounce before more fresh lows, especially considering China's poor economic data.
ASX 200 Financials at 52-week highs
Ticker | Company | Close | 1 Week | 1 Year |
|---|---|---|---|---|
Zip Co | $2.67 | 15.6% | 853.6% | |
Judo Capital | $1.775 | 2.3% | 78.4% | |
Hub24 | $57.06 | -0.2% | 70.1% | |
Westpac | $33.57 | 4.6% | 59.0% | |
Netwealth Group | $24.13 | 3.2% | 54.5% | |
Macquarie Group | $231.17 | 1.8% | 37.9% | |
National Australia Bank | $39.67 | 3.6% | 37.5% | |
Suncorp Group | $18.21 | 1.4% | 29.4% | |
ANZ Group | $31.89 | 2.4% | 27.7% | |
AMP | $1.31 | -0.4% | 3.2% |
Data shows any stock to have hit a 52-week high in the past week. Share price and performance as at Friday 20 August close
ASX 200 Real Estate stocks at 52-week highs
Ticker | Company | Close | 1 Week | 1 Year |
|---|---|---|---|---|
Scentre Group | $3.74 | 2.5% | 46.7% | |
Centuria Capital | $2.08 | 11.5% | 42.5% | |
Stockland | $5.36 | 1.9% | 36.0% | |
Vicinity Centres | $2.27 | -2.2% | 31.6% | |
GPT Group | $5.11 | 1.0% | 27.8% | |
Arena Reit | $4.28 | 3.6% | 24.1% | |
Charter Hall Long Wale Reit | $4.16 | 4.0% | 21.6% | |
Waypoint Reit | $2.7 | -0.4% | 14.9% | |
National Storage Reit | $2.55 | 4.5% | 14.9% | |
BWP Trust | $3.77 | 1.1% | 6.5% |
Data shows any stock to have hit a 52-week high in the past week. Share price and performance as at Friday 20 August close
ASX 200 Industrials at 52-week highs
Data shows any stock to have hit a 52-week high in the past week. Share price and performance as at Friday 20 August close
Other stocks and sectors making 52-week highs
Ticker | Company | Close | Sector | 1 Week | 1 Year |
|---|---|---|---|---|---|
Breville Group | $34.78 | Discretionary | 1.1% | 54.8% | |
Aristocrat Leisure | $57.62 | Discretionary | 4.0% | 39.4% | |
ARB Corporation | $45.31 | Discretionary | 3.3% | 36.1% | |
Pro Medicus | $172.17 | Health Care | 2.7% | 141.9% | |
Sigma Healthcare | $1.405 | Health Care | 2.2% | 106.7% | |
Ansell | $31.94 | Health Care | 4.7% | 41.3% | |
Newmont Corp | $78.63 | Materials | -0.1% | NA | |
West African Resources | $1.695 | Materials | 11.2% | 110.6% | |
Capricorn Metals | $6.34 | Materials | 1.4% | 49.2% | |
Northern Star | $16.02 | Materials | 2.7% | 47.7% | |
Evolution Mining | $4.4 | Materials | 1.9% | 24.7% | |
Coles Group | $19.22 | Staples | 1.6% | 21.9% | |
Wisetech Global | $131.72 | Technology | 0.5% | 93.9% | |
Technology One | $23.94 | Technology | 4.0% | 50.9% | |
Light & Wonder | $165.58 | Technology | 0.4% | 45.4% | |
Xero | $150.05 | Technology | 5.6% | 28.3% |
Data shows any stock to have hit a 52-week high in the past week. Data is sorted by Sector and 1-year performance. Share price and performance as at Friday 20 August 2024
ASX 200 stocks at 52-week lows
Ticker | Company | Close | Sector | 1 Week | 1 Year |
|---|---|---|---|---|---|
Ampol | $28.53 | Energy | -1.1% | -14.8% | |
Perpetual | $18.31 | Financials | -2.3% | -13.0% | |
Atlas Arteria | $4.74 | Industrials | -5.4% | -17.6% | |
Auckland International Airport | $6.65 | Industrials | -4.3% | -7.6% | |
Inghams Group | $2.92 | Staples | -1.0% | -12.1% | |
Megaport | $7.28 | Technology | -4.0% | -35.7% | |
Spark New Zealand | $3.01 | Telecommunication | -3.2% | -32.1% |
Data shows any stock to have hit a 52-week low in the past week. Data is sorted by Sector and 1-year performance. Share price and performance as at Friday 20 August 2024
Why do 52-Week Highs and Lows Matter
Here are some of the key points our first 52-Week article:
A research thesis by Thomas J. George and Chuan-Yang Hwang titled The 52-Week High and Momentum Investing concludes that stocks nearing their 52-week high tend to outperform in the future, surpassing the predictive power of past returns.
US trader Mark Minervini also notes that “when you see a growing number of names in a particular industry making new 52-week highs (especially coming off a market low), this could be an indication that a group advance is underway.”
1851 Capital Chief Investment Officer Chris Stott says the numbers are useful in helping to determine which stocks have the momentum to keep making fresh highs. The data is used to identify continuous winners and generate fresh ideas.
