Many investors use 52-week highs as a factor in determining the current value of a stock and predicting future price movements. With that in mind, h …
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This story originally appeared on MarketBeat
When a stock hits its 52-week high, it trades at its highest price in the past 12 months. Many investors use 52-week highs as a factor in determining the current value of a stock and as a prediction of future price action. With that in mind, here are the top 10 stocks to hit a new 52-week high captured by the MarketBeat stock screener on July 26, 2021:
Microsoft (NASDAQ: MFST) – Microsoft has made a habit of hitting new 52-week highs. MSFT stock is up over 32% in 2021 and 7% in the month ended July 23, 2021. The company is a pandemic winner and generates about a third of its revenue from its cloud business. Almost another third of sales come from the gaming industry, which has continued to grow with the introduction of a new x-Box console. The tech giant reports earnings on July 27, 2021, and analysts predict the stock will continue to hit new 52-week highs.
AutoZone (NYSE: AZO) – AutoZone is one of the stocks that hit their 52-week high, although the reasons are not entirely clear. Recent analysts' ratings have been bearish on the stock and the company won't release earnings until September. One potential catalyst, however, is simply that millions of Americans are choosing to travel by car this summer, which is fueling demand for auto parts. It may also be an indication that many Americans are returning or will be returning to their daily commute.
Eaton (NYSE: ETN) – Eaton is a nod to an infrastructure bill that Congress passes. The ETN share was upgraded three times by analysts in July. The stock enjoys strong institutional ownership and pays a dividend that currently has a yield of 1.95%. Eaton will publish the results on August 3, 2021.
Dollar General (NYSE: DG) – Dollar General was a big winner during the pandemic. The company was considered an essential business during the pandemic. And because they serve many small towns and rural areas that are not often from a chain like Walmart (NYSE: WMT), Dollar General has seen strong revenues throughout the pandemic. They used this time to expand the launch of their Popshelf brand, which is aimed at a higher income audience.
Johnson Controls Intl. (NYSE: JCI) – The diversified multinational company draws attention to the patent applications it has filed for its OpenBlue Central Utility Plant and related energy-optimizing product offerings. The company received an analyst upgrade in July. However, this is only the most recent boost for JCI stock. The share price is up over 90% in the past 12 months and nearly 53% so far in 2021. Johnson Controls will announce earnings on July 30, 2021.
Nike (NYSE: NKE) – There are plenty of catalysts helping to propel Nike to its 52-week high. One such catalyst is growth in the company's digital space. Nike benefited from the pandemic when Americans started (or postponed) their exercise routines. This created a demand for the company's shoes and leisure products. Nike has also been the subject of several new analyst upgrades that keep the company's stock higher.
Republic Services (NYSE: RSG) – The Republic Services group rose over 24% in 2021, slightly outperforming the S&P 500 index over the same period. Last month, the stock rose on two analyst upgrades. One of the catalysts for the company is the drive to electrify its fleet. The company also pays a steady dividend, which it has been increasing over the past 11 years. Republic Services will report the results on July 29, 2021.
Expeditors International of Washington (NASDAQ: EXPD) – The global logistics company's share price rose over 40% in 2021. And like many companies on this list, the company benefits from positive analyst reviews. EXPD stocks are heavily held by institutional investors, which means their price activity is fairly stable. The company will publish the results on August 3, 2021.
American Tower (NYSE: AMT) Another infrastructure stock to make this list is American Tower, which is up 29.3% in 2021. The Global Real Estate Investment Trust (REIT) owns and operates cell towers and is an integral part of the ongoing 5G expansion. The company will report the results on July 29, 2021.
ASML Holding NV (NASDAQ: ASML) – The global chip shortage is expected to last well into 2022. And that will be a catalyst for ASML Holding. The company supplies the world's leading chip manufacturers. ASML stock hit its 52-week high after submitting a mixed earnings report that the company slightly missed sales but surpassed the bottom line.
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