JB Hi-Fi (ASX:JBH) share price testing all-time high today 

JB Hi-Fi Limited (ASX: JBH) is arguably one of Australia’s favourite retail brands. Both its high street shopfronts and online stores are popular with shoppers. Therefore, it may come as little surprise that the JB Hi-Fi share price is testing its all-time high again today. 

JB Hi-Fi share price performance

After reaching a high of $52.88 in August this year, the JB share price then retreated back down to around the $46 to $47 mark by the middle of September. After remaining at these levels through until early October, the retail giant’s shares again began climbing. This culminated in the JB Hi-Fi share price briefly breaching its all-time high in intraday trading today when it reached $52.99, before falling back to its current level of $52.54 at the time of writing. 

JB Hi-Fi shares have had an impressive run in 2020, rising almost 40% since the start of the year. Not to mention, following the coronavirus crash this year, the JB Hi-Fi share price is up more than 150% since those March lows. 

Normally, the lead up to Christmas is a bumper time for JB Hi-Fi. If the company’s share price does manage to break through its all-time high and remain there prior to the holiday period, I think we could see more bullish moves to come. The last time the JB Hi-Fi share price exceeded its previous all-time high, it went on to secure an almost 15% gain in under two weeks. 

Outperforming in its space

Another point to note about JB Hi-Fi’s share price performance is that its 12 month return stands at 53.5%.

This is considerably higher than the average for the industry in which JB operates. On the ASX, JB Hi-Fi is considered to be in the ‘AU Specialty Retail’ industry, which has only returned an average of 19.6% over the same 12-month period.

While not the ‘be all and end all’ of measures, it certainly suggests that JB Hi-Fi has outperformed a significant portion of its peers within the same industry.

Dividend yield

Although not widely considered a major drawcard for investors in JB Hi-Fi shares, I also think it’s worth mentioning the company’s dividend yield.

For more than 10 years now, JB Hi-Fi has paid investors a stable dividend yield of above 3%. It should be noted, though, that 2018 and 2019 saw a slightly higher yield than in 2020.

Dividend yields aren’t typically considered to be an important attribute for growth shares. However, I do like to take a dividend yield into account since, in the end, it all adds up for an investor.

Levels to watch 

The important level to watch for the JB Hi-Fi share price is $52.88.

A break and close above this level will be considered to be a new all-time high for the company. Failing to break this level, or getting rejected here, could see the JB Hi-Fi share price continue to bounce between $52 and $46, where it has been for the past 30 to 60 days.

More reading

• Is it time to go all in on ASX shares?
• 3 ASX growth shares that I would buy in 2020
• Revealed: ASX Christmas winners and losers
• 3 unstoppable ASX shares to buy with $3,000
• Why this Federal Budget is good for many ASX shares

Motley Fool contributor glennleese has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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