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3 Top-Ranked Stocks That Doubled in 2022

It’s been a challenging stretch in the market year-to-date, with a hawkish Fed, geopolitical issues, and lingering COVID-19 uncertainties weighing heavily on sentiment.

Despite all the negativity, there have been several bright spots in 2022, with some stocks snapping the overall bearish trend and rewarding investors handsomely.

Three stocks – CONSOL Energy Inc. CEIX, Ardmore Shipping Corp. ASC, and Hudson Technologies Inc. HDSN – have all sailed through calm waters in 2022, up more than 100% year-to-date.

Below is a chart illustrating the year-to-date performance of all three stocks, with the S&P 500 blended in as a benchmark.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

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As we can see, all three stocks have gone on stellar runs in 2022, crushing the S&P 500’s performance.

In addition, all three sport a favorable Zacks Rank #1 (Strong Buy), indicating that their earnings outlooks have shifted positively. Let’s take a closer look at each one.

CONSOL Energy Inc.

CONSOL Energy is a publicly owned producer and exporter of high-BTU bituminous thermal coal and is one of the leading energy companies in the United States.

Analysts have substantially raised their bottom-line outlook over the last several months.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

It’s hard to ignore CEIX’s growth profile; the Zacks Consensus EPS Estimate of $11.05 for its current fiscal year (FY22) suggests a Y/Y improvement of more than 430%. And in FY23, estimates suggest a further 150% of bottom-line growth.

The earnings growth comes on top of forecasted Y/Y revenue upticks of 57% in FY22 and 35% in FY23.

In addition, CONSOL Energy rewards its shareholders handsomely; CEIX’s annual dividend currently yields roughly 6%, nicely above its Zacks Oils and Energy sector average of an already steep 4.4%.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

Ardmore Shipping Corp.

Ardmore Shipping is engaged in the ownership and operation of product and chemical tankers worldwide, providing shipping services to customers through voyage charters, commercial pools, and time charters.

Like CEIX, Ardmore Shipping’s bottom-line outlook has visibly improved over the last several months.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

ASC has surpassed earnings and revenue expectations in three consecutive quarters, providing shares the fuel they need for an upwards move.

In its latest release, ASC penciled in a 10% EPS beat paired with an 11% sales surprise. Below is a chart illustrating the company’s revenue on a quarterly basis.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

Hudson Technologies Inc.

Hudson Technologies is a leading provider of innovative solutions to recurring problems within industrial chiller plants and refrigeration systems.

The company has seen its earnings outlook improve across multiple timeframes, helping land the stock into a Zacks Rank #1 (Strong Buy).

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

HDSN has posted strong quarterly results, exceeding the Zacks Consensus EPS Estimate in four consecutive quarters by at least double-digit percentages.

In its latest release, Hudson Technologies exceeded bottom line estimates by more than 90% and reported sales 15% above expectations.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

Bottom Line

Stocks have sailed through rough waters in 2022. Simply put, coming out of a once-in-a-lifetime pandemic has landed us in a highly unique economic environment.

Still, all three stocks above – CONSOL Energy Inc. CEIX, Ardmore Shipping Corp. ASC, and Hudson Technologies Inc. HDSN – have entirely ignored the market’s woes in 2022, delivering substantial gains to investors.

And for the cherry on top, all three sport the highly-coveted Zacks Rank #1 (Strong Buy), indicating that their earnings outlooks have improved as of late.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Hudson Technologies, Inc. (HDSN) : Free Stock Analysis Report

Ardmore Shipping Corporation (ASC) : Free Stock Analysis Report

Consol Energy Inc. (CEIX) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research