Stocks Hit 52-Week Highs: Altria, Lumber Liquidators

NEW YORK ( TheStreet) -- These stocks reached 52-week highs on Tuesday: Lumber Liquidators ( LL), Altria ( MO), Skechers ( SKX) and Arena Pharmaceuticals ( ARNA).

Lumber Liquidators

Shares of Lumber Liquidators hit a 52-week high on Tuesday of $30.81. The stock's 52-week low of $13.43 was set on Sept. 6.

"We are reiterating our Overweight rating and raising our price target to $35 (22x 2013 EPS of $1.59) on LL shares after participating in investor meetings with management last week," Piper Jaffray analysts wrote in a report Tuesday. "After several years of rapid store expansion and infrastructure build, LL now has a tremendous opportunity to drive operating enhancements across the enterprise. The last two quarters have hinted at improvement to comp and gross margin, but we believe the bigger benefits (particularly with gross margin) have yet to see full impact. While we are increasing our out-year 2013 estimate to $1.59 based on increased confidence in the long-term improvement story, LL shares appear to also set up well near-term. Sales and margin compares remain easy for the next 2-3 quarters and the high short interest of ~25% could allow for a rally on (what we believe will be) favorable EPS results."

Lumber Liquidators trades at an estimated price-to-earnings ratio for next year of 28.95 times; the average among its peers is 20.45. For comparison, Home Depot ( HD) has a lower forward P/E of 19.67.

Eight of the nine analysts who cover Lumber Liquidators rated it hold; one analyst gave the stock a sell rating.

The stock has risen 71.46% year to date.

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Altria

Shares of Altria hit a 52-week high on Tuesday of $33.36. The stock's 52-week low of $23.20 was set on Aug. 9.

"Depending on the success of Marlboro Eighty-Threes we could image an expansion of the idea and package design into Silver and Gold as well," Jefferies analysts wrote in a report Monday. "Gold is the largest segment for the Marlboro franchise and a modernization of the pack design might further improve the positioning of this sub-brand as well."

Altria has a forward P/E of 15.85; the average for its peers is 18.34. For comparison, Lorillard ( LO) has a lower forward P/E of 15.5.

Analysts were split on Altria with nine of them rating the stock a buy and another nine giving the stock a hold rating.

The stock has risen 12.45% year to date.


Skechers

Shares of Skechers hit a 52-week high on Tuesday of $20.60. The stock's 52-week low of $11.21 was set on Jan. 9.

"New product offerings, growth at key domestic accounts and in international markets, and apparent inventory and expense control lead us to be confident about 2H12 and 2013," Sterne Agee analysts wrote in a report Monday.

Analysts were split on Skechers with two rating it buy, another two giving the stock a hold rating and yet another two analysts rating the stock a sell.

The stock has risen 68.98% year to date.

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Arena Pharmaceuticals

Shares of Arena hit a 52-week high on Tuesday of $7.75. The stock's 52-week low of $1.23 was set on Oct. 4.

"Arena raised gross proceeds of $69.6 million bringing pro forma cash to ~$154 million, which we estimate is sufficient to gain Lorcaserin approval," Piper Jaffray analysts wrote in a May 29 report. "Earlier this month, the Endocrinologic and Metabolic Drugs Advisory Committee voted 18 to 4 to approve Lorcaserin for the treatment of obesity. The drug's PDUFA date is June 27th, but could potentially be pushed back 90 days. Regardless, we do anticipate approval this year triggering a $60 million milestone from partner Eisai. We reiterate our Overweight rating and $7 price target."

Five of the 11 analysts who cover Arena rated it hold. Four analysts gave the stock a buy rating and two rated it sell.

The stock has risen 311.81% year to date.

-- Written by Alexandra Zendrian

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