5 Stocks Hitting 52-Week Highs: ACAT, KLAC, SYNA, ALGT, HNT

NEW YORK ( TheStreet) - These stocks reached 52-week highs on Friday: Arctic Cat ( ACAT), KLA-Tencor ( KLAC), Synaptics ( SYNA), Allegiant Travel ( ALGT) and Health Net ( HNT).

Each of these stocks got a buy rating from TheStreet Ratings.

Arctic Cat

After Thursday's close, the snowmobile company posted a fiscal third-quarter profit of $17 million, or 92 cents a share, which increased from $9.3 million, or $0.50 per diluted share, a year ago.

"We expect acceleration of traction in the ATV category (especially SxSs) to continue, particularly as the launch of the Wildcat ramps over the next several months, which we expect to be magnified as ACAT begins to ship ATV products more in line with retail demand (following several years of destocking and extremely low inventory levels)," Keybanc Capital Markets analysts wrote in a report on Friday. "In addition to the favorable product cycle, management has done an excellent job with cost savings initiatives, driving impressive (and better than expected) margin improvement to date, which remain apparent as volume increases."

Shares of Arctic Cat hit a 52-week high of $30.89 on Friday. The stock's 52-week low of $11.55 was set on June 13.

TheStreet Ratings gives Arctic Cat a B- grade with a $31.33 price target. The stock has risen 29.55% year to date.

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KLA-Tencor

This company makes semiconductor manufacturing equipment. After Thursday's close, KLA-Tencor reported a second-quarter profit of $110.8 million, or 67 cents a share, down from $185.5 million, or $1.11 a share, in the same period a year ago.

"With a strong order outlook for Mar'12 and $1.4bn in systems backlog, $2.2bn in cash in the balance sheet, continued share buyback (repurchased 1.4m shares in Dec'11), we believe KLA shares remain very compelling," Piper Jaffray analysts wrote in a report on Friday.

Shares of KLA-Tencor hit a 52-week high Friday of $53.05. The stock's 52-week low of $33.20 was set on Sept. 6.

The stock gets a B grade from TheStreet Ratings and a $64.94 price target. The shares have increased 8.87% year to date.


Synaptics

This company makes mobile computing technology products. The stock was upgraded by Needham to a buy from a hold on Friday.

"Next quarter's guidance suggests that PC market still weighs, though in good time, by 2H12, everything should fall into place, macro willing," Oppenheimer analysts wrote Friday.

Shares of Synaptics hit a 52-week high Friday of $37.49. The stock's 52-week low of $21.97 was set on Sept. 22.

TheStreet Ratings gives Synaptics an A- grade and a $37.93 price target. The stock has risen 22.79% year to date.

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Allegiant Travel

The travel company is adding a new operations base at Oakland International Airport on April 26, the company announced on Tuesday.

"ALGT trades at a 60% premium to the sector on earnings and EBITDA, yet its earnings have underperformed in recent quarters, and we see greater risk to estimates, given accelerating growth in the face of an overleveraged consumer, new fare rules that make its prices seem less attractive, and the introduction of a new fleet type," Bank of America Merrill Lynch analysts wrote in a report on Jan. 10.

Shares of Allegiant hit a 52-week high of $55.85 on Friday. The stock's 52-week low of $38.95 on April 15.

Allegiant Travel gets a B+ grade from TheStreet Ratings and a price target of $68.08. Shares have risen 3.72% year to date.


Health Net

The managed health care services provider sold its Medicare PDP business to CVS Caremark ( CVS) earlier in January.

"HNT's sale of its Medicare PDP business (4% of revenue) to CVS Caremark is on the low end of other recent industry transactions," Jefferies analysts wrote in a report on Jan. 9. "PDP was a source of earnings headwind in 2011, as sanctions caused about a 12% membership decline and MLRs were higher than expected. Nonetheless, PDP seemed ready to rebound in 2012, and we question whether HNT is getting enough consideration."

Shares of Health Net hit a 52-week high on Friday of $37.31. The stock's 52-week low of $20.51 was set on Aug. 9.

TheStreet Ratings gives Health Net a B+ grade and a $41.06 price target. The stock has risen 22.52% year to date.

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-- Written by Alexandra Zendrian in New York.

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