5 Best Performing Growth Stocks in 2022

In this article, we discuss 5 best performing growth stocks in 2022. If you want to see more stocks in this selection, 12 Best Performing Growth Stocks in 2022. 

5. ATI Inc. (NYSE:ATI)

Number of Hedge Fund Holders: 27

YTD Share Price Gain in 2022 as of December 29: 91.78%

P/E Ratio as of December 29: 277.73

ATI Inc. (NYSE:ATI) is a Texas-based company that manufactures and sells specialty materials and components worldwide. The company operates in two segments – High Performance Materials & Components and Advanced Alloys & Solutions. ATI Inc. (NYSE:ATI) is one of the best performing growth stocks this year, with shares climbing 92% year-to-date. The company’s Q3 non-GAAP EPS of $0.53 was in line with market estimates. Revenue over the period climbed nearly 42% year-over-year to $1.03 billion, outperforming Wall Street consensus by $93.2 million. ATI Inc. (NYSE:ATI) expects ongoing strength in its key markets, particularly aerospace and defense, to drive profitable revenue growth.

On August 5, Wolfe Research analyst Tinma Tanners upgraded ATI Inc. (NYSE:ATI) to Outperform from Peer Perform with a $33 price target following the company’s Q2 “beat and raise.” The analyst has conviction that the stock has “more room to run” given the view that aerospace upside “has legs” and that the legacy sheet business can earn more as compared to the past.

According to Insider Monkey’s third quarter data, 27 hedge funds were long ATI Inc. (NYSE:ATI), compared to 22 funds in the last quarter. D E Shaw is the largest stakeholder of the company, with 3.4 million shares worth $90.4 million.