When a stock hits a fresh high, it can either signal that the stock is on its way to greatness or that it has run its course. Even with the risk of the latter, searching for these outperformers can reveal companies that are doing something right, much to their investors' delight.

Digging deeper
With that in mind, we'll use the aggregate intelligence of the 110,000-plus investors participating in Motley Fool CAPS to find stocks hitting 52-week highs today. The community's approval (as evidenced by four- and five-star ratings) could be a sign that further research is in order.

Here are three such stocks:

 

Today's High

Industry

CAPS Rating

Fools Saying Outperform

Natus Medical (NASDAQ:BABY)

$24.44

Health services

*****

1249 of 1282

Overhill Farms (NYSE:OFI)

$10.00

Food & beverage

*****

140 of 146

Ebix (NASDAQ:EBIX)

$102.00

Computer software & services

*****

281 of 290

Source: Motley Fool CAPS, as of Aug. 1, 2008.

Other five-star health services companies:

  • Mindray Medical (NYSE:MR) -- up 29.7% in the past year.
  • Coventry Health Care (NYSE:CVH) -- stock price is 36.6% cheaper than a year ago.

Other food & beverage companies:

  • Cal-Maine Foods (NASDAQ:CALM) -- up 117% in the past year.
  • PepsiCo (NYSE:PEP) -- up 3.7% in the past year.

Come and join us on CAPS to learn more about these and countless other interesting stock ideas. Click here to sign up.

Fool Dan Dzombak wishes he had bought these stocks last year. Unfortunately, he does not have a financial position in any of the stocks mentioned in this article. Natus Medical is a Motley Fool Hidden Gems recommendation. Mindray Medical and Ebix are Rule Breakers picks. Coventry Health Care is a Stock Advisor recommendation. Try any of our Foolish newsletters today, free for 30 days. The Motley Fool has a disclosure policy.