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8 Stocks Hitting New 52-Week Highs

Peet's Coffee & Tea

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Peet's Coffee & Tea (PEET) is a specialty coffee roaster and marketer of fresh roasted whole bean coffee and tea. This stock is trading up 0.9% at $68.18 in recent trading after hitting a 52-week high of $68.48 earlier in the day.

Today's Range: $67.49-$68.48

52-Week Range: $40.22-$67.72

Volume: 39,000

Three-Month Average Volume: 120,132

Peet's Coffee & Tea has a market cap of $885.24 million and an enterprise value of $861.54 million. The stock trades at a trailing price-to-earnings of 49.48 and a forward price-to-earnings of 38.47. Its estimated growth rate for this year is 12.8%, and for next year it's pegged at 18.7%. The current short interest as a percentage of the float for Peet's Coffee & Tea is rather high at 19.6%.

>>5 Rocket Stocks to Buy for February

From a technical perspective, PEET has just recently triggered a major breakout trade now that this stock has moved above some near-term overhead resistance at $63.76 to $65 on decent volume. This breakout has now pushed PEET into all-time high territory, which is bullish price action for any stock.

Traders should continue to look for long biased trades in PEET as long as the stock remains above those breakout levels. Keep in mind that the relative strength index (RSI) reading for PEET is now 79, which indicates the stock is overbought. It might be best to wait for PEET to consolidate a bit in the short term.
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