8 "Cheap" Stocks Trading at 52-Week Highs

Michael Teague |

Over the past few weeks, investors have become acutely sensitive to Central Bank policy and stocks are feeling the effects, with the S&P 500 and the Dow both over 5 percent off of all-time highs reached in May. In such a climate, there are some options available to investors looking for stocks showing signs of growth potential despite the fact that they may be relatively undervalued.

The following stocks all hit 52-week highs on Wednesday, and were selected based on size (mid-cap or greater), a P/E ratio that is lower than the current S&P 500 average of 18.5, and positive performance in 2013. Furthermore, all of these stocks have an average analyst rating of “buy or better”:

U.S. Bancorp (USB) – The Midwestern bank has a market cap of $66.76 billion, and on Wednesday saw shares hit a 52-week high of $36.06 before dropping slightly to $35.93 by the end of trading. USB is up 13 percent year-to-date, and has a P/E ratio of 12.4.

PNC Financial Services Group Inc. (PNC) – The money center bank has a market cap of $38.49 billion, and shares closed Wednesday at $73.18 after hitting their 52-week high of $74.19 earlier in the day. PNC is up 27 percent in the calendar year, and has a P/E ratio of 13.

Time Warner Cable Inc. (TWC) – The cable television provider has a market cap of $30.58 billion, with shares at $103.64 as of Wednesday’s close, just shy of the $104.21 52-week high from earlier in the trading day. TWC is up 8 percent year to date, and has a P/E ratio of 4.15

BB&T Corporation (BBT) – the mid-Atlantic bank has a market cap of $23.73 billion, with shares trading at $33.88, just shy of their 52-week high of $34.37. BBT is up 19 percent in 2013, and has a P/E ratio of 14.18

Aetna Inc. (AET) – The health insurance provider has a market cap of $20.63 billion, with shares trading at $62.96 as of Wednesday’s close, slightly off from the $63.47 52-week high hit earlier in the day. AET is up 37 percent so far this year, and has a P/E ratio of 13.

East West Bancorp Inc. (EWBC) – The West-coast bank has a market cap of $3.71 billion, with shares trading at $26.93 as of Wednesday’s close, just slightly off their 52-week high of $27.28 reached earlier in the day. EWBC is up 27 percent year-to-date, and has a P/E ratio of 13.95.

Webster Financial Corp. (WBS) – The Northeastern bank has a market cap of $2.16 billion, with shares at $25.22 as of Wednesday’s close, just shy of a$25.50 52-week high from earlier in the trading day. WBS is up 24 percent on the year, and has a P/E ratio of 13.41.

Inergy, L.P. (NRGY) – The midstream oil and gas company has a market cap of $2.1 billion. Shares closed Wednesday at $15.96, slightly lower than the 52-week high of $16.69 from earlier in the day. NRGY is up 53 percent in 2013, and has a P/E ratio of 4.1.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
AET Aetna Inc. 115.74 0.81 0.70 976,259
BBT BB&T Corporation 37.40 0.37 1.00 4,244,469
EWBC East West Bancorp Inc. 36.12 0.05 0.14 1,330,793
PNC PNC Financial Services Group Inc. (The) 88.55 0.78 0.89 3,116,507
TWC Time Warner Cable Inc n/a n/a n/a 0
USB U.S. Bancorp 42.90 0.43 1.01 6,747,795
WBS Webster Financial Corporation 37.65 0.14 0.37 573,047
ZION Zions Bancorporation 30.41 0.39 1.30 2,334,787

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