3 Buy-Ranked Stocks That Skyrocketed Over 200% In 2017

To date, the Dow Jones Industrial Average and the Nasdaq Composite have experienced substantial gains, while the S&P 500 has surged over 20% in 2017.

Now, after the passage of the new GOP tax plan, which is set to cut the corporate tax rate from 35% to 21%, companies from many industries should be set to see their bottom lines expand next year. On top of that, firms should theoretically be able to invest a larger amount of money back into their businesses.

The real outcome of the Republican tax overhaul will not be measurable for some time, but companies from Wells Fargo (NYSE:WFC) to AT&T (NYSE:T) have already promised to share the wealth with employees.

Furthermore, the new tax plan should also help lift investor confidence as we head into 2018, and it could set up the Amazons (NASDAQ:AMZN) and Apples AAPL of the world to possibly experience even bigger gains in the New Year.

However, even without the GOP tax bill, a few firms more than doubled the gains of these tech giants in 2017. Better yet, there are a few of these bigger movers that are currently Zacks Ranks #1 (Strong Buy) or #2 (Buy) stocks.

With that said, let’s take a look at three stocks, which also have high Zacks Ranks, that all soared over 200% in 2017:

1. SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Shares of this renewable energy firm, which aims to help maximize solar output through an array of solutions, have skyrocketed 208% in 2017. SolarEdge is currently a Zacks Rank #1 (Strong Buy) and sports an overall “B” VGM score. On top of that, SolarEdge is currently trading at a respectable 17.36x earnings.

The company’s fourth-quarter earnings are expected to surge 96% year-over-year to hit $0.63 per share, based on our current Zacks Consensus Estimates. SolarEdge’s Q4 sales are expected to climb 61.23%. These projections could help the company’s stock continue to pop as we head into 2018. Lastly, looking even farther ahead, SolarEdge’s EPS is expected to grow at an annualized rate of 24% over the next three to five years.

2. Control4 Corporation (NASDAQ:CTRL)

Control4 Corporation is currently a Zacks Rank #2 (Buy) and also rocks an “A” grade for Growth in our Style Scores system. The company offers clients the opportunity to integrate video, lighting, temperature, security, communications and more into one connected home solution. The stock has skyrocketed 211% since the start of the year.

Aside from these massive gains, investors might be happy to learn that shares of Control4 currently rest over 11% below their 52-week high—which could provide the chance to buy on the dip ahead of what is expected to be solid Q4 and full-year top and bottom line expansion.

Our current Zacks Consensus Estimates call for Control4’s full-year earnings to surge by 34% to hit $1.14 per share. On top of that, the connected home firm’s full-year sales are projected to hit $244 million, which would mark a nearly 17% year-over-year increase.

3. Textainer Group Holdings Limited (NYSE:TGH)

Shares of this shipping container company have skyrocketed 204% in 2017. Textainer is also currently a Zacks Rank #1 (Strong Buy) and has received three upward full-year earnings estimate revisions against no downgrades—all of which came in the last 60 days.

Looking ahead to Textainer’s fourth-quarter, the company is expected to post earnings of $0.18 per share, which would mark an 176.39% climb after the company reported a loss in the year-ago period. One the world’s largest lessors of shipping containers is also projected to see its Q4 sales gain 7.63%, based on our current Zacks Consensus Estimates.

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