6 Stocks Hitting New Highs
Altria Group (MO), through its subsidiaries, engages in the manufacture and sale of cigarettes, smokeless products, and wine in the U.S. and internationally. This stock is trading down 0.24% to $29.04 in recent trading after hitting a 52-week high of $29.47 earlier in the day.
Today's Range: $29.00-$29.4752-Week Range: $23.20-$29.25 Volume: 9.3 million Three-Month Average Volume: 14.4 million Altria Group has a market cap of $59.58 billion and an enterprise value of $70.44 billion. This stock trades at a trailing price-to-earnings of 17.36 and a forward price-to-earnings of 13.25. Its estimated growth rate for this year is 7.4% and for next year it's pegged at 7.4%. The current short interest as a percentage of the float for Altria Group is very low at 1.2%. From a technical standpoint, MO recently triggered a major breakout once it broke out above some past overhead resistance at $28.14 on monster volume. As long as MO can continue to trend above $28.14 and the upside volume remains solid, then traders should look to play this stock with a bullish bias off any weakness. Altria shows up on recent lists of Merrill Lynchs 10 Favorite Stocks for 2012 and 20 Winning Stocks Set to Post New Highs in 2012.
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