Top Stocks at 52-Week Highs: A Closer Look

This week's Zacks Market Edge podcast discusses stocks trading at or near their 52-week highs, with a focus on those with a top Zacks Rank of #1 (Strong Buy), #2 (Buy), or #3 (Hold). The screen returned 223 matches, including big cap tech companies like Alphabet (GOOGL) and old economy industries like construction and utilities. Other stocks mentioned include BorgWarner (BWA), Bank of America (BAC), and gold mining companies.

This week's Zacks Market Edge podcast delved into the realm of stocks trading at or near their 52-week highs, with a particular focus on those with a top Zacks Rank of #1 (Strong Buy), #2 (Buy), or #3 (Hold). The screen returned 223 matches, encompassing a diverse range of sectors, including big cap technology companies, old economy industries, and gold mining firms.

Among the notable stocks mentioned, Alphabet Inc. (GOOGL) stood out. Alphabet is currently trading at both its 52-week and all-time highs, with shares up 11.8% year-to-date. The company boasts a forward price-to-earnings (P/E) ratio of 20.8 and an attractive PEG ratio of 1.4, indicating strong value potential. Despite being a Zacks Rank #3 (Hold), Alphabet remains a compelling investment due to its robust growth prospects and strategic positioning in the tech industry [1].

BorgWarner Inc. (BWA), a specialist in automotive technology, also made the list. Shares of BorgWarner have surged 35% year-to-date, reaching 52-week highs. The company's forward P/E ratio of 9.5 underscores its attractiveness, making it a potential candidate for investors seeking undervalued opportunities in the automotive sector [1].

Bank of America Corp. (BAC), a long-time favorite of Warren Buffett, has seen its shares climb 14.9% year-to-date, hitting both 52-week and all-time highs. The bank's price-to-book (P/B) ratio of 1.35 suggests it remains undervalued relative to its peers, making it an intriguing option for large-cap bank investors [1].

Lincoln Electric Holdings, Inc. (LECO), a full-line manufacturer and reseller of welding and cutting products, has experienced a 31% year-to-date increase in share price, reaching 52-week highs. With a market cap of $13.7 billion, Lincoln Electric is not cheap, but its forward P/E ratio of 26 and Zacks Rank #2 (Buy) status indicate strong fundamentals [1].

United Rentals, Inc. (URI), the world's largest equipment rental company, has seen its shares rise 35.6% year-to-date, hitting 52-week and all-time highs. United Rentals' forward P/E ratio of 21.6 and PEG ratio of 2.19 suggest it is more expensive than Alphabet but still offers growth potential [1].

Other notable stocks trading near their 52-week highs include Apex Critical Metals Corp. (C.APXC), Aritzia Inc. (T.ATZ), and Canadian Imperial Bank Of Commerce (T.CM), among others. These stocks, along with those mentioned in the podcast, provide investors with a variety of options to consider as they navigate the current market landscape.

References:
[1] https://finance.yahoo.com/news/top-stocks-52-week-highs-180000255.html