The 52-Week-High List: 14 Mid Cap Names On Tuesday
A small group of stocks is hitting new highs in a down market, raising questions about valuation.
As of Tuesday, September 15, there are 14 Mid Cap US and Canada-listed stocks in the Trefis coverage universe trading at their 52-week highs. This strength comes as the S&P 500 has returned -2.4% over the last month. The largest company on the list is Okta (OKTA), with a market value of about $33.5 billion, after its stock gained 29.2% over the last month. The question is what kind of business fundamentals are supporting these prices.
The 10 Largest, By Market Cap
The table below shows the 10 largest of the 14 names, sorted by market capitalization, with returns over four windows:
| Tickers | Market Cap |
1D % Chg |
1W % Chg |
1M % Chg |
1Y % Chg |
|---|---|---|---|---|---|
| OKTA | $33.54 Bil | 2.1% | 13.6% | 29.2% | 110.8% |
| DGX | $27.43 Bil | 3.9% | 4.9% | 5.4% | 37.5% |
| EXPD | $25.39 Bil | 0.1% | 4.3% | 4.2% | 58.6% |
| GH | $23.34 Bil | 4.7% | 9.1% | 11.7% | 220.0% |
| PR | $20.37 Bil | 2.4% | 2.9% | 13.2% | 84.7% |
| DINO | $20.14 Bil | 5.0% | 3.6% | 19.8% | 126.8% |
| OVV | $18.75 Bil | 2.9% | 5.0% | 6.8% | 64.9% |
| APA | $16.74 Bil | 5.3% | 8.9% | 17.1% | 114.8% |
| DT | $16.12 Bil | 3.4% | 9.7% | 12.3% | 12.5% |
| RVTY | $15.64 Bil | 9.1% | 10.3% | 20.0% | 69.6% |
This screen covers US and Canada-listed stocks in the Trefis coverage universe. Mid Cap here means a market value between $10 billion and $40 billion, the upper figure excluded.
The list shows two very different paths to a new high.
By sector, the list is led by Energy and Information Technology, with 4 names each. The contrast between them is sharp. Okta (OKTA) trades at 112.1 times trailing earnings, and its revenue grew 11.2% over the last twelve months, and its operating margin was 7.7%. In contrast, Permian Resources (PR) trades at 16.5 times trailing earnings, and its revenue grew 12.8% over the last twelve months, and its operating margin was 43.5%.
A high price is a question, not an answer.
A list of stocks at their strongest prices of the year is a good place to look for ideas. Strength can be a durable signal. But a price is not a verdict on a company’s quality or its future. The disciplined next step is to ask whether the business itself earns the new, higher valuation.
Before chasing any name on this list, ask what the company itself expects next. Our Guidance Momentum screen surfaces the stocks whose managements just raised their own outlooks.
New Highs Fade. Discipline Compounds
Some of the names on this list will keep setting highs for years, and some are at the top of their run right now. Sorting one from the other, name by name, every day, is the work most investors never keep up with.
That sorting is what the Trefis High Quality (HQ) Portfolio does systematically: about 30 quality businesses screened for the fundamentals that sustain a run, held with rules instead of excitement. It has a track record of outpacing a benchmark that combines the S&P 500, the S&P MidCap 400, and the Russell 2000. Use the high list for ideas; use the portfolio for the compounding.