The Australian stock market continues to witness strong performance, with a significant number of stocks from the S&P/ASX 200 Index (ASX: XJO) recently setting new 52-week highs. On a positive trading day, the ASX 200 index rose by 0.3%, closing at 8,011.9 points. Notably, 10 of the 11 market sectors ended the day in the green, with energy stocks leading the pack, up by 0.93%, while materials stocks slipped by 0.27%. Several big-name companies reached impressive price milestones during this rally.
Let’s take a closer look at the top five ASX performers that hit new 52-week highs recently.
1. CBA Sets New All-Time High, Outpaces BHP
The Commonwealth Bank of Australia (CBA) has been consistently setting new records, further solidifying its position as Australia’s largest bank. On September 10, CBA shares hit an all-time high of $145.24 per share. This milestone comes on the back of a stellar performance, with the stock up 41% over the past year. CBA’s remarkable run saw it surpass mining giant BHP Group (ASX: BHP) as the largest company on the ASX 200. Despite no price-sensitive news driving the surge, investors remain confident in CBA’s continued success and stability in the market.
2. Qantas Flies High: Shares Hit New 52-Week Peak
Qantas Airways, one of the most recognised names in the travel industry, also joined the ranks of ASX companies hitting new highs. Qantas shares reached a new 52-week high of $6.87. Over the past year, Qantas stock has risen 23%, reflecting the airline's recovery and investors’ optimism about the broader travel and tourism sector. Despite no major announcements on the day, Qantas continues to benefit from the rebound in global travel demand as restrictions ease and more people take to the skies.
3. Macquarie Group Breaks Records Amid Financial Growth
The Macquarie Group, another major player in the Australian financial sector, reached an all-time record high with its shares hitting $228.50. Over the past year, Macquarie’s stock price has surged by 31%, with strong financial performance driving its growth. Investors closely follow Macquarie's success as one of the top global investment banking and financial services companies; its record-breaking performance demonstrates its adaptability and resilience in a difficult economic climate.
4. Pro Medicus: Healthcare Star with 118% Growth
Pro Medicus has emerged as a star performer in the ASX healthcare sector, with its shares reaching a new all-time high of $160.24. The stock has experienced a phenomenal 118% growth over the past 12 months, making it one of the best-performing healthcare stocks in the ASX. Pro Medicus provides cutting-edge medical imaging software, and its success is driven by growing demand for its products both in Australia and internationally. The company’s strong financial results and strategic partnerships continue to fuel investor confidence.
5. HUB24 Hits New High as Wealth Management Leader
HUB24, a provider of wealth management and investment solutions, also reached an all-time high recently, with its share price hitting $56.65. Over the last year, HUB24’s stock has soared by 71%, reflecting the company’s strong growth and increasing market share in the financial services sector. The company has positioned itself as a leader in the rapidly evolving wealth management space, offering innovative solutions that appeal to a growing client base.
More High Performers Worth Watching
While these five companies have made headlines with their remarkable achievements, several other ASX stocks have also delivered noteworthy performances. National Australia Bank (ASX: NAB) shares hit a 20-year high of $39.40, gaining 34% over the past year. Westpac Banking Corporation (ASX: WBC) reached a new 52-week high of $32.44, and Bank of Queensland (ASX: BOQ) recorded a high of $6.57, though it hasn’t matched the growth rate of its peers.
In addition, Insurance Australia Group (ASX: IAG) saw its share price hit a four-year high of $7.90, up 35% over the year. Aristocrat Leisure Limited (ASX: ALL) shares surged to an all-time high of $55.38, and Wisetech Global (ASX: WTC) reached a new high of $128.26, with an impressive 87% growth over the past 12 months.
New 52-week highs have been reached in a number of sectors during the most recent surge in ASX stocks, with CBA, Qantas, Macquarie, Pro Medicus, and HUB24 leading the way. While some stocks have soared due to strong fundamentals, others have benefitted from broader market optimism and sector-specific trends. As these companies continue to perform well, they are expected to remain in the spotlight for investors looking for solid growth opportunities on the ASX.
