Best Growth Stock Picks
Horizon North Logistics and Raging River Exploration can add profound upside to your portfolio. This is because the optimistic growth outlook for their profitability and returns make their high-growth potential appealing relative to their peers. If a buoyant growth prospect is what you’re after in your next investment, I’ve put together a list of high-growth stocks you may be interested in, based on the latest financial data from each company.
Horizon North Logistics Inc. (TSX:HNL)
Horizon North Logistics Inc. provides industrial, commercial, and residential products and services in Canada and the United States. The company provides employment to 1595 people and with the market cap of CAD CA$377.90M, it falls under the small-cap stocks category.
An outstanding doubling of earnings is forecasted for HNL, driven by an underlying sales growth of 40.41% over the next few years. Though some cost-cutting activities may artificially inflate margins, it appears that this isn’t solely the case here, as profit growth is also coupled with high top-line expansion. We see this bottom-line expansion directly benefiting shareholders, with expected positive return on equity of 4.28%. HNL’s bullish prospects on both the top and bottom lines make it an interesting stock to invest more time to understand how it can add value to your portfolio. Should you add HNL to your portfolio? I recommend researching its fundamentals here.
Raging River Exploration Inc. (TSX:RRX)
Raging River Exploration Inc. engages in the exploration, development, and production of crude oil and natural gas properties in Western Canada. Established in 2011, and run by CEO Neil Roszell, the company size now stands at 61 people and with the market cap of CAD CA$1.45B, it falls under the small-cap group.
RRX’s projected future profit growth is a robust 26.34%, with an underlying 39.38% growth from its revenues expected over the upcoming years. Profit growth, coupled with top-line expansion, is a positive indication. This is because net income isn’t artificially inflated by unsustainable activities such as one-off cost-reductions expected in the future. This prospective profitability should trickle down to shareholders, with analysts expecting the company to generate a positive return on equity of 6.04%. RRX ticks the boxes for robust growth generation on all levels of line items, which makes it an appealing stock to dig into deeper. A potential addition to your portfolio? Have a browse through its key fundamentals here.
Firan Technology Group Corporation (TSX:FTG)
Firan Technology Group Corporation manufactures and sells printed circuit boards and precision illuminated display systems. Started in 1983, and run by CEO Bradley Bourne, the company provides employment to 499 people and with the stock’s market cap sitting at CAD CA$49.72M, it comes under the small-cap stocks category.
Interested to learn more about FTG? Check out its fundamental factors here.
For more financially robust companies with high growth potential to enhance your portfolio, explore this interactive list of fast growing companies.
To help readers see pass the short term volatility of the financial market, we aim to bring you a long-term focused research analysis purely driven by fundamental data. Note that our analysis does not factor in the latest price sensitive company announcements.
The author is an independent contributor and at the time of publication had no position in the stocks mentioned.
