AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
The Australian equity benchmark index, S&P/ ASX 200 gained 3.7% last week as buying was witnessed across the sectors after data suggested inflation in the US has cooled.
Amid the positive stock market movement, a few stocks hit 52-week highs last week. Such stocks are Eagers Automotive Limited (ASX: APE), Fletcher Building Limited (ASX: FBU) and Cettire Limited (ASX: CTT).
Eagers Automotive Limited (ASX:APE)
Shares of Eagers Automotive hit a 52-week high of AU$15.030 per share on Thursday, although the company released no significant news. Shares closed at AU$14.99 apiece on Thursday, 4.39% higher than Wednesday’s close. With this, the share price has surged nearly 30% in past one year and in 2023 to date, it has grown by 36.13%. The shares recorded a rise of 24.03% in the last six months, and a rise of 15.40% in the last month.
Eagers Automotive is a retail group in New Zealand and Australia. The core business of the company is the operation and ownership of motor vehicle dealerships. The services offered include the sale of used and new vehicles, repairing and services of motor vehicles, distribution of accessories and parts and facilitating finance for motor vehicles.
The last significant update from the company came on 3 July 2023. The company informed about a 31% increase in ownership interest in EV Dealer Group Pty Ltd. It operates an exclusive retailer for BYD (Build Your Dreams).
Fletcher Building Limited (ASX:FBU)
Shares of Fletcher Building hit a 52-week high of AU$5.270 per share on Friday, 14 July 2023. There were no new updates from the company that can be related to last week’s gains in the stock. In one year, the share price has surged by nearly 13%, in six months by 12.50% and in a month by nearly 12%.
Fletcher’s area of operations is manufacturing, home building, distribution and retail and major infrastructure and construction projects. In an update dated 21 June 2023, the company shared that it expects its EBIT to be c.$800 million and EBIT margin to be higher than 9% in FY23 (financial year 2023). The expected house sale is approximately 650 units. In FY24, the targeted unit sale is c.700 to 800 units.
Cettire Limited (ASX:CTT)
Shares of Cettire hit a 52-week high of AU$3.720 apiece during early morning trade on Thursday, 13 July 2023, despite any price sensitive announcement from the company. Later, during the trading session, the share price moved around its previous day's close and closed at AU$3.49 per share, 0.29% down on Thursday. In the last one year, the share price has swelled by nearly 800% and in 2023 to date, it has gained over 180%.
Cettire is an online retailer that offers in-demand personal luxury goods. The company was launched in 2017 and has access to 400,000 products of accessories, bags, shoes and apparels and a catalogue of around 2,500 luxury brands.
In the last significant update (16 May 2023), Cettire shared that it has recorded sales revenue of AU$141.3 million for the four-month period, ending 30 April 2023. Adjusted EBITDA during the same period was a minimum AU$7.0 million. As on 30 April, the company’s cash balance was around AU$39 million.
The monthly sales revenue in April grew by almost 160% year-on-year, continuing the growth achieved in the third quarter of the financial year 2023.
Image source: Company update
