After what was an up-and-down August for stocks, September isn’t quite off to a hot start, and it looks like investors are poised to display more caution in the latter portion of 2017. Nevertheless, several notable individual stocks are testing new highs every day.
In fact, according to Barchart.com, at least 107 companies touched a new 52-week high on Friday morning. Of these, a handful are also currently sporting strong Zacks Ranks, which means they could be poised to move even higher in the coming months.
While some investors are hesitant to buy stocks at their peak, a soaring company with a Zacks Rank #1 (Strong Buy) could be the best option for capturing current momentum and existing potential.
With that said, check out these three stocks that just hit new 52-week highs today:
1. Micron Technology (MU - Free Report)
Micron shares were actually in the red through morning trading on Friday, but the stock briefly touched a new 52-week high of $33.02 per share after the opening bell. This red-hot chipmaker is up over 42% year-to-date, making it one of 2017’s most impressive semiconductor stocks.
Significant improvements in core operations, as well as several key acquisitions, have helped the company post quadruple-digit earnings growth and impressive sales growth, and share prices have soared accordingly. On top of its strong Zacks Rank, MU is sporting an “A” grade for Value, as well as an overall VGM grade of “A.”
2. JA Solar Holdings
Shares of JA Solar had a strong morning surge and quickly topped out at an intraday high of $7.84, which also marked a new 52-week high for the stock. This solar cell manufacturer has been on fire since its most recent earnings report. The company surpassed the Zacks Consensus Estimate for the fourth-straight quarter, and now, in addition to its Zacks Rank #1 (Strong Buy), JA Solar has an “A” grade for Value and VGM.
3. Diageo (DEO - Free Report)
Liquor behemoth Diageo moved more than 1% higher this morning, touching a new 52-week and all-time high of $1367.34 per share in the process. This major British exporter has not only benefitted from a weaker pound—it has also cashed in on rising popularity of spirits in America.
The company, which owns Johnnie Walker, J&B, Gordon's, Baileys, Guinness and more, has hit multiple new 52-week highs over the past month. The company also owns Smirnoff, Cîroc, Ketel One, Don Julio, and Tanqueray, which are all brands that could be poised to grow further as the spirit explosion continues in the U.S.
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