By Hassan
Malik
When
a stock reaches a 52-week high it can either mean it’s overvalued or it has momentum
behind it. With this in mind, SmallCapPower has shortlisted five Canadian stocks
that have recently reached new 52-week highs and have outperformed the S&P
TSX index over the past year.
Allana Potash (TSX:
AAA): Allana is a potash project developer. Recently, the junior miner
entered into a definitive agreement whereby it agreed to be acquired by
fertilizer giant Israel Chemical Ltd. (ICL). The $109.50 million takeover aims
to speed up the development of Allana’s promising Danakil project in northeast
Ethiopia. The market reacted positively to the news as Allana’s share price surged
44% that day, setting a new 52-week high. Shares of the company have
outperformed the S&P TSX by 10.56% during the past year.
WSP Global Inc. (TSX:
WSP): WSPis a professional
services firm that works with businesses, planners and architects and provides
them with integrated solutions across many platforms, from designing
zero-carbon cities to project managing large-scale infrastructure projects. On April
6, 2015, the company’s stock closed at $43.43, hitting a new 52-week high. Additionally,
over the last five days, shares have gained 2.79% and 24.58% year to date. WSP
Global’s shares have outperformed the S&P TSX by 12.68% during the last
year.
Toromont Industries
Ltd. (TSX:
TIH):Toromont is a provider of
refrigeration systems. The Company operates through two segments: The Equipment
Group and CIMCO. Both employ a common business model of providing specialized
capital equipment and ongoing customer support to well-diversified end markets.
On April 6, 2015, shares of the company rallied 0.51% and closed at $33.21,
setting a new 52-week high. Additionally, over the last five days, shares have
gained 1.93% and 16.49% year to date. Toromont’s stock has outperformed the
S&P TSX by 23.56% in the last 52 weeks.
FirstService Corp. (TSX:
FSV):FirstService is a real
estate services company that operates in residential and commercial properties
through three industry service platforms: Colliers International, FirstService
Residential, and FirstService Brands. On April 6, 2015, shares of the company
gained 0.31% and closed at $84.40, reaching a new 52-week high. Moreover, in the
last five days, its shares have risen 3.33% and 42.38% year to date. The
company’s stock has outperformed the S&P TSX by 51.82% during the past
year.
Enghouse Systems Ltd. (TSX:
ESL):Enghouse is a software and
services company that develops enterprise software solutions for a variety of
vertical markets. The Company operates through two segments: Interactive
Management Group and Asset Management Group. On April 6, 2015, shares of Enghouse
closed up 2.66%, setting a new 52-week high. In addition, over the last five
days, shares of the company have gained 3.50% and 24.73% year to date. Enghouse’s
stock price has outperformed the S&P TSX by 59.01% during the last year.
Disclaimer: This article was posted with
the permission of a third-party contributor and the opinions contained
therein do not necessarily reflect those of SmallCapPower. SmallCapPower
does not endorse any investment advice provided by these third-party contributors.
Please consult your investment advisor
before making any investment decisions. Ubika Corporation and its
divisions SmallCapPower, Ubika Communication and Ubika Research are not
registered with any financial or securities regulatory authority in
Ontario or Canada, and do not provide nor claims to provide investment advice
or recommendations to any visitor of this site or readers of any content
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