When a stock reaches its 52-week high, it is trading at its highest price in the past 12-month period. Many investors use 52-week highs as a factor in determining a stock's current value and as a predictor of future price movements. With that in mind, here are the top 10 stocks that have reached a new 52-week high as tracked by the MarketBeat stock screener as of July 26, 2021:
1. Microsoft
Microsoft (NASDAQ:MSFT) has been making a habit out of hitting new 52-week highs. In 2021, MSFT stock is up over 32%, and it’s up 7% in the month ending July 23, 2021.
The company has been a pandemic winner and is seeing about one third of its revenue coming from its cloud business. Nearly another third of revenue is coming from its gaming vertical which has continued to see growth with the launch of a new x-Box console.
The tech giant reported earnings on July 27, 2021 and analysts are projecting that the stock will continue to reach new 52-week highs.
2. AutoZone
AutoZone (NYSE:AZO) is one of the stocks advancing to its 52-week high, although the reasons are not very clear. Recent analyst ratings have been bearish on the stock, and the company won’t report earnings until September. With that said, a potential catalyst is simply that millions of Americans are deciding to travel by car this summer which is stimulating demand for auto parts. This can also be an indication that many Americans are, or will be, resuming their daily commute.
3. Eaton
Eaton (NYSE:ETN) is a play on an infrastructure bill passing Congress. ETN stock has been the subject of three bullish upgrades by analysts in July. The stock enjoys heavy institutional ownership and pays a dividend that currently has a 1.95% yield. Eaton will report earnings on Aug. 3, 2021.
4. Dollar General
Dollar General (NYSE:DG) has been a big winner during the pandemic, when it was s deemed an essential business. And because they serve many small towns and rural areas not frequently covered by a chain such as Walmart (NYSE:WMT), Dollar General has been able to deliver strong revenue throughout the pandemic. They have used this time to expand the launch of its Popshelf brand which is targeting a higher income demographic.
5. Johnson Controls
The diversified multinational company is drawing attention for 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, that’s only the latest boost for Johnson Controls (NYSE:JCI) stock. The share price is up over 90% in the past 12 months and nearly 53% thus far in 2021. Johnson Controls reports earnings on July 30, 2021.
6. Nike
There are many catalysts that are helping push Nike (NYSE:NKE) to its 52-week high. One such catalyst is the growth in the company’s digital division. Nike benefited from the pandemic as Americans started (or moved) their workout routines. This created demand for the company’s footwear and athleisure products. Nike has also been the subject of several recent analyst upgrades that are further propelling the company’s stock higher.
7. Republic Services
Republic Services (NYSE:RSG) is up over 24% in 2021, easily outpacing the S&P 500 Index over that same period. In the last month, the stock is rising on the back of two analyst upgrades. One of the catalysts for the company is its commitment to electrifying its fleet. The company also pays out a reliable dividend that they have been increasing for the past 11 years. Republic Services will report earnings on July 29, 2021.
8. Expeditors International of Washington
The stock price of the global logistics company is up over 40% in 2021. And like many companies on this list, the company is benefiting from positive analyst ratings. Expeditors International of Washington (NASDAQ:EXPD) stock has heavy institutional ownership which means its price activity is quite stable. The company will report earnings on Aug. 3, 2021.
9. American Tower
Another infrastructure stock that makes this list is American Tower (NYSE:AMT) which is up 29.3% in 2021. The global real estate investment trust (REIT) owns and operates cellphone towers, and is an essential part of the 5G buildout that is still underway. The company reports earnings on July 29, 2021.
10. ASML Holding
The global chip shortage is expected to last well into 2022. And that will be a catalyst for ASML Holding (NASDAQ:ASML). The company is a supplier to the world’s leading chipmakers. ASML stock has hit its 52-week high after delivering a mixed earnings report that saw the company slightly missed on revenue, but beat on the bottom line.