5 Stocks Hit 52-Week Highs

NEW YORK ( TheStreet) -- The following stocks hit 52-week highs on Wednesday: Lumber Liquidators ( LL), Meritage Homes ( MTH), Churchill Downs ( CHDN), Radware ( RDWR) and BioMarin Pharmaceutical ( BMRN).

Lumber Liquidators

"LL's business model provides competitive advantages," Canaccord analysts wrote in a report Tuesday. "Stores are relatively low-cost, and direct vendor relationships result in compelling values. LL's selection is wider, and we believe product quality and service is better than the competition."

Shares of Lumber Liquidators hit a 52-week high of $30.12 on Wednesday. The stock's 52-week low of $13.43 was set on Sept. 6.

Lumber Liquidators trades at an estimated price-to-earnings ratio for next year of 20.52 times; the average for home-improvement retailers is 14.99. For comparison, Home Depot ( HD) has a slightly lower forward P/E of 14.79.

Seven of the 13 analysts who cover Lumber Liquidators rated it hold. Five analysts gave the stock a buy rating and one rated it sell.

The stock has risen 68.52% year to date.

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Meritage Homes

"MTH said in some locations, such as Phoenix, it is having success raising prices and has done so 23 times since February in some communities," Wells Fargo analysts wrote in a May 9 report. "Elsewhere, where growth is less robust, the company has less pricing power, highlighting how local pricing is within the industry. MTH would like to slow order growth in some communities, but raising prices can contribute to greater urgency and increased demand."

Shares of Meritage Homes hit a 52-week high Wednesday of $29.73. The stock's 52-week low of $13.68 was set on Oct. 4.

Meritage Homes' forward P/E is 18.78; the average for home construction companies is 47.28. For comparison, DR Horton ( DHI) has a higher forward P/E of 14.8.

Eleven of the 17 analysts who cover Meritage Homes rated it hold. Three analysts gave the stock a buy rating and another three rated it sell.

The stock has risen 26.74% year to date.


Churchill Downs

"CHDN reported a profit for its 1Q, a period which has historically produced a net loss due to the seasonality of live racing," Hilliard Lyons analysts wrote in a May 8 report. "However, an effective diversification strategy begun by management several years ago has lessened the weighted contribution of the racing segment by adding profitable (and growing) income streams from gaming and online wagering. We view the generation of a 1Q profit as a landmark achievement for CHDN and not a one-time anomaly."

Shares of Churchill Downs hit a 52-week high of $63.18 on Wednesday. The stock's 52-week low of $36.67 was set on Sept. 30.

Churchill Downs' forward P/E is 18.18; the average for gambling companies is 13.96. For comparison, International Game Technology ( IGT) has a lower forward P/E of 12.17.

All five of the analysts who cover Churchill Downs rated it buy.

The stock has risen 20.3% year to date.

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Radware

Oppenheimer analysts said that Radware could be negotiating a licensing agreement with Juniper Networks ( JNPR).

"Based on our checks we believe Radware is in advanced negotiations with Juniperfor a software licensing deal," Oppenheimer analysts wrote in a report Tuesday. "In our opinion, Juniper is looking to license Radware's ADC engine and integrate it with its own data center switch architecture, the QFabric. While details are still limited, we believe the deal could be substantial in size (~$70M- $100M) and over a long time frame (3-5 years). We note that Juniper and Radware have already announced a relationship in 4Q11 to sell Radware's ADC solution on Juniper's MX routers targeting the service provider market. Should the transaction materialize, we see ~$0.75 in EPS upside per annum for Radware at the midpoint of our estimates. Maintain Outperform."

Shares of Radware hit a 52-week high Wednesday of $40.83. The stock's 52-week low of $18.98 was set on Oct. 3.

Radware's forward P/E is 19.66; the average for telecommunications equipment companies is 11.16.

All four of the analysts who cover Radware rated it buy.

The stock has risen 34.05% year to date.


BioMarin Pharmaceutical

"BioMarin ended the quarter with total revenue of $116.2 million, in‐line enough with consensus of $118.8 million," Brean Murray Carret analysts wrote in an April 27 report. "Naglazyme revenue was $68 million, beating consensus of $60 million, primarily because of the Brazilian order that continues to be in the first quarter versus the fourth of the prior year. Kuvan sales were $32 million, which just beat consensus of $31 million. Aldurazyme worldwide net revenue was $45.9 million, with BioMarin only receiving $12 million, due to negative product transfer revenue of $6.4 million that will reverse in 2H12. The 1Q12 diluted GAAP EPS was $(0.21), which missed consensus of $(0.15), primarily due to higher than expected R&D expenses of $73.8 million, which was mainly due to GALNS manufacturing expenses and additional patients in the GALNS trial, all of which reflects physician optimism for the trial. The company ended 1Q12 with $288 million in cash and investments."

Shares of BioMarin hit a 52-week high on Wednesday of $39.20. The stock's 52-week low of $23.74 was set on Aug. 8.

Fourteen of the 18 analysts who cover BioMarin rated it buy; four analysts gave the stock a hold rating.

The stock has risen 11.98% year to date.

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-- Written by Alexandra Zendrian

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