When a stock hits a fresh high, it can mean that it’s 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.

Let’s dig deeper
With that in mind, we'll use the aggregate intelligence of the 140,000-plus investors participating in Motley Fool CAPS to find stocks hitting 52-week highs today. The community's approval (signified by four- and five-star ratings) could be a sign that further research is in order.

Here are three such stocks:

Company

Today’s Intraday Price

Industry

CAPS Rating (out of 5)

Fools Saying Outperform

Microvision, Inc. (NASDAQ:MVIS)

$4.42

Electrical Equipment

2 Stars

297 of 331

Precision Castparts Corp. (NYSE:PCP)

$101.68

Aerospace and Defense

5 Stars

1282 of 1307

Dr. Reddy's Laboratories Limited (ADR) (NYSE:RDY)

$17.89

Pharmaceuticals

5 Stars

336 of 353

Source: Motley Fool CAPS, as of September 18, 2009

Top-rated electrical equipment companies:

  • Jinpan International Limited (NASDAQ:JST): Stock price is 35% higher than last year.
  • Encore Wire Corp (NASDAQ:WIRE): Stock price is 29% higher than last year.

Top-rated aerospace and defense companies:

  • Cubic Corp (NYSE:CUB): Stock price is 51% higher than last year.
  • Elbit Systems Ltd. (ADR) (NASDAQ:ESLT): Stock price is 36% higher than last year.

Join us on CAPS to learn more about these and countless other interesting stock ideas.