Stocks Hitting 52-Week Highs: Hershey, PetSmart, TJX

NEW YORK ( TheStreet) -- These stocks rose to 52-week highs on Monday: Hershey ( HSY), Six Flags ( SIX), Duke Energy ( DUK), Dunkin' Brands ( DNKN), PetSmart ( PETM), TJX ( TJX), Southern ( SO), Dollar Tree ( DLTR), Dollar General ( DG) and Consolidated Edison ( ED).

Hershey

"We add HSY to the Americas Conviction List as we raise incremental consumer staples exposure to the consumer sleeve of our Conviction List," Goldman Sachs analysts wrote in a June 12 report. "HSY offers best-in-class visibility to outsized revenue and earnings growth over the next two years. Our FY13/FY14E EPS of $3.64/$3.98 are 3%/5% ahead of the Street. Our path to nearly $4 in 2014 anticipates abatement of input cost inflation in FY13, a return to normalized category growth in North America next year and continued momentum in HSY's emerging markets. Incremental upside could stem from (1) cost deflation rather than stagnation and (2) aggressive cash deployment."

Shares of Hershey hit a 52-week high on Monday of $69.98. The stock's 52-week low of $53.83 on Aug. 9.

Hershey trades at an estimated price-to-earnings ratio for next year of 22.86 times; the average for its peers is 19.24. For comparison, Kraft Foods ( KFT) has a lower forward P/E of 16.51.

Nine of the 17 analysts who cover Hershey rated it hold; eight analysts gave the stock a buy rating.

The stock has risen 12.98% year to date.

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Six Flags

"Dick Clark Productions (DCP) could be up for sale, according to the New York Times," Oppenheimer analysts wrote in a June 14 report. "We believe SIX would look to monetize its 39.2% stake in the production company, which we conservatively estimate could be worth $35M, or $0.65/share. Further, we raise our price target to $55, from $50, owing to the possibility SIX can reach its Project 500 goal before the original target date of 2015. Maintain Outperform."

Shares of Six Flags hit a 52-week high on Monday of $51.15. The stock's 52-week low of $24.72 was set on Oct. 4.

Three of the five analysts who cover Six Flags rated it buy. One analyst gave the stock a hold rating and another rated it sell.

The stock has risen 22.91% year to date.


Duke Energy

"We think near-visibility (finally) to a merged DUK-PGN offers an attractive vehicle for large cap Regulated Utility exposure offering competitive EPS growth potential at 4-6% (with low end of synergies), a good dividend yield at 4.3%, a highly regulated business mix at 86% of earnings that dilutes legacy concerns about Duke's International / OH generation exposure, and ~1.0x P/E multiple discount that translates into an annualized rate of return of 10.1%," Credit Suisse analysts wrote in a June 11 report.

Shares of Duke Energy hit a 52-week high on Monday of $23.40. The stock's 52-week low of $16.87 was set on Aug. 9.

Duke Energy's forward P/E is 16.04; the average among its peers is 15.15. For comparison, American Electric Power ( AEP) has a lower forward P/E of 12.88.

Fourteen of the 19 analysts who cover Duke Energy rated it hold. Four analysts gave the stock a buy rating and one rated it sell.

The stock has risen 5.91% year to date.

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Dunkin' Brands

"Given DNKN's franchised model, incremental sales gains see high flow-through," Jefferies analysts wrote in a June 11 report. "DNKN also continues to leverage G&A ~150+ bps/yr, even with some current ongoing international infra. & supply chain investments. This should translate mid-to-high single digit revenue growth into +10-12% op profit &15%+ EPS growth (incl. modest debt paydown). However, the co. has indicated a willingness to take on approx. one additional turn of debt (~$350 mm) and go from current leverage ratios of 4-4.5x to 5-5.5x. We suspect DNKN would consider a buyback of stock directly from financial sponsors (who still own ~30% collectively); this share count reduction would drive accretion & EPS gains. We continue to like this defensive story and remain buyers, particularly on any dips."

Shares of Dunkin' Brands hit a 52-week high on Monday of $35.78. The stock's 52-week low of $19 was on July 26.

Dunkin' Brands' forward P/E is 3.95; the average among its peers is 22.59. For comparison, Starbucks ( SBUX) has a higher forward P/E of 30.91.

Nine of the 16 analysts who cover Dunkin' Brands rated it buy. Six analysts gave the stock a hold rating and one rated it sell.

The stock has risen 43.57% year to date.


PetSmart

The pet retailer announced Monday that it is raising its quarterly dividend 18% to 16.5 cents a share.

The company also said that it will repurchase $525 million of stock starting on July 30.

"PetSmart remains one of our favorite names, as it continues to benefit from favorable industry trends, healthy cash flows and company initiatives to drive sales/margins," Bank of America Merrill Lynch analysts wrote in a report Monday. "With consistently solid performance, we reiterate our Buy rating."

Shares of PetSmart hit a 52-week high on Monday of $68.14. The stock's 52-week low of $37.76. was set on Aug. 8.

PetSmart's forward P/E was 23.78 times; the average among its peers is 21.16.

Fourteen of the 25 analysts who cover PetSmart rated it hold; 11 analysts gave the stock a buy rating.

The stock has risen 33.09% year to date.

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TJX

"TJX reported consolidated SSS growth of 8% on top of +5%, 300bps ahead of us, consensus, and prior guidance. SSS momentum persisted across all segments, driven by significantly higher customer traffic," Canaccord analysts wrote in a May 31 report. "In the core MarMaxx division, SSS were up 8% on top of +4%, and SSS increased 7% on top of +3% at HomeGoods. T.K. Maxx reported SSS growth of 11% on top of -4%, and the Canadian business was up 6% on top of -4%. Following the better-than-expected May performance, management believes Q2 EPS will be at the high end of its guidance range of $0.47-$0.50. Our forecast was already at $0.50, and the consensus is $0.01 higher. We are maintaining our HOLD rating and $45 price target."

Shares of TJX hit a 52-week high on Monday of $43.13. The stock's 52-week low of $24.75 was set on June 20.

TJX's forward P/E is 19.75; the average among its peers is 17.41. For comparison, Ross Stores ( ROST) has a higher forward P/E of 21.84.

Eighteen of the 29 analysts who cover TJX rated it buy; 11 analysts gave the stock a hold rating.

The stock has risen 33.19% year to date.


Southern

"We calculate our $44 PT by applying a 15.0x P/E multiple to our 2014E of $2.95," Deutsche Bank analysts wrote in a June 13 report. "Upside risks include faster-than-anticipated economic recovery in the Southeast, better-than-anticipated rate case outcomes, lower market interest rates, and lower financing requirements. Downside risks include weaker-than anticipated sales, negative rate case outcomes, and higher market interest rates."

Shares of Southern hit a 52-week high on Monday of $48.45. The stock's 52-week low of $35.73 was set on Aug. 9.

Southern's forward P/E is 19.35 times; the average among its peers is 15.48. For comparison, Entergy ( ETR) has a lower forward P/E of 9.98 times.

Thirteen of the 23 analysts who cover Southern rated it hold. Five analysts gave the stock a buy rating and another five rated it sell.

The stock has risen 4.28% year to date.

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Dollar Tree

"Offering an umbrella of relative safety in a stormy retail tape, DLTR is positioned to outperform (on a relative basis) in a tough macro backdrop with an improving environment a catalyst to unlock incremental top-line (average ticket growth w/ higher income demographic) and margin opportunity (GPM drivers / lean 2.0% FC hurdle)," JPMorgan analysts wrote in a June 6 report. "Despite the multi-year run in the stock (26.1% YTD vs. SPX 4.6%) the underlying story remains a bit misunderstood as three key tenets separate DLTR from dollar peers (1) 50/50 mix of consumables/discretionary (peers at 60-70% consumables), (2) targeted gross margin buying targets provide increased visibility (bottom up approach backing into freight/mix), and (3) branded offering below 30% provides greater negotiation flexibility (not tied to a single vendor). The investment profile of The Tree is among the best in retail today with ~20% EPS growth driven by consistent MSD+ SSS (+4.9% traffic TTM), HSD Sq Ft Growth, Improving NSP, and EBIT margin drivers ahead (13% prior peak not a ceiling) - more than deserving of a premium multiple. Reiterate OW rating and establish a December 2013 $110 PT."

Shares of Dollar Tree hit a 52-week high on Monday of $112.51. The stock's 52-week low of $60 was on Aug. 8.

Dollar Tree's forward P/E is 26.02 times; the average among its peers is 20.5. For comparison, Dollar General ( DG) has a lower forward P/E of 20.63.

Fifteen of the 24 analysts who cover Dollar Tree rated it buy; nine analysts gave the stock a hold rating.

The stock has fallen 35.17% year to date.


Dollar General

"We have taken a fresh look at our Dollar General model and raised estimates (now at $2.82 for 2012, above the Street)," Deutsche Bank analysts wrote in a June 7 report. "Looking forward, we believe DG has multiple sales drivers in place that should provide robust growth and its 1H investments in its business (i.e. DC costs, advertising supporting for CA Rollout) should begin to pay dividends in 2H - allowing solid leverage within its business model as mgmnt continues to execute its LT strategy. Stay Long."

Shares of Dollar General hit a 52-week high on Monday of $52.25. The stock's 52-week low of $29.84 was set on Aug. 8.

Nineteen of the 25 analysts who cover Dollar General rated it buy; six analysts gave the stock a hold rating.

The stock has risen 26.15% year to date.

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Consolidated Edison

"ED is in the midst of a multi-year period of increased investment in its electric and gas distribution facilities, which should drive mid-single-digit annual EPS growth," Wells Fargo analysts wrote in a May 7 report. "Our neutral rating largely reflects valuation considerations."

Consolidated Edison's forward P/E is 17.43; the average among its peers is 16.08. For comparison, Sempra Energy ( SRE) has a lower forward P/E of 15.35.

Twelve of the 17 analysts who cover Consolidated Edison rated it hold and five analysts gave the stock a sell rating.

The stock has risen 2.27% year to date.

-- Written by Alexandra Zendrian

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