Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

5 Prominent NYSE Stocks That Hit 52-Week Highs Monday

Page 1 of 2

It was a red Monday on Wall Street, with the NYSE Composite sliding by 0.49%, while the S&P 500 was off by 0.30%, the Dow Jones declined by 0.42%, and the Nasdaq dipped by 0.05%. Nonetheless, several NYSE stocks managed to hit their yearly highs on Monday, led by Fabrinet (NYSE:FN), which jumped by 7% during the session.

We’ll take a look at the performance of Fabrinet in this article, as well as four other NYSE stocks that hit 52-Weeks on Monday: Big Lots, Inc. (NYSE:BIG), Centene Corp (NYSE:CNC), International Business Machines Corp. (NYSE:IBM), and Hewlett Packard Enterprise Co (NYSE:HPE). We’ll also use SEC filings to see what hedge funds think about these stocks.

At Insider Monkey, we track around 765 hedge funds and institutional investors. Through extensive backtests, we have determined that imitating some of the stocks that these investors are collectively bullish on can help retail investors generate double digits of alpha per year. The key is to focus on the small-cap picks of these funds, which are usually less followed by the broader market and allow for larger price inefficiencies (see more details).

ibm, closeup, delivery, corporation, white, cyberjaya, mesh, corporate, business, server, sign, symbol, msc, corridor, gdc, technology, building, computer, wall, pc, center,

Tauke / Shutterstock.com

Big Year Leads to Record High for Big Lots

We’ll start with Big Lots, Inc. (NYSE:BIG), which gained 0.99% on Monday and pushed to its 52-week and all-time high of $53.83 at the very end of the trading session. It’s been a big year for the stock, which is up by 39% in 2016. A chunk of that damage was done on May 27 when shares gained 14% following the release of the company’s first quarter results, which beat estimates. The company’s full year EPS guidance also came in ahead of expectations, even on its low-end. The discount retailer has been successful in putting a greater emphasis on furniture sales and offering financing options to customers to ensure more successful sales.

Big Lots, Inc. (NYSE:BIG) shares were owned by 20 of the hedge funds tracked by Insider Monkey on March 31.

Follow Big Lots Inc (NYSE:BIG)
Trade (NYSE:BIG) Now!

Has IBM Finally Turned the Corner?

International Business Machines Corp. (NYSE:IBM) appears poised to end its three-year losing streak on the stock market, as its shares have surged by 18% this year and reached their 52-week high of $162.88 on Monday. Although Big Blue hasn’t yet completely stemmed its revenue bleeding, sales fell by just 2.7% year-over-year to $20.24 billion in the second quarter as its cloud, analytics, and security segments all show promise. Analysts nonetheless have a cautious view of the stock, with the consensus rating among 27 leading analysts standing at ‘Hold’, though several have raised their price targets on the stock recently.

International Business Machines Corp. (NYSE:IBM) is a longtime favorite stock of Warren Buffett‘s Berkshire Hathaway, which owned 81.23 million shares of the company on March 31.

Follow International Business Machines Corp (NYSE:IBM)
Trade (NYSE:IBM) Now!

We’ll check out three more stocks that hit 52-weeks on Monday on page two.

Page 1 of 2
Loading Comments...