So far this year it has been a great time to be a shareholder of TPG Telecom Ltd (ASX: TPM) and Primary Health Care Limited (ASX: PRY). Both shares are outperforming the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) by some distance.

As many investors will be aware this hasn’t been the case for all shares on the index unfortunately, and for many shares, 2016 has been a year to forget.

There are however a couple of shares which have had a disappointing start to the year but could come bouncing back in my opinion. They are as follows:

Caltex Australia Limited (ASX: CTX)

Although the shares of fuel retailer Caltex are down 12% year-to-date, the majority of these losses came in the last month.

The reason for the decline is still a little unclear considering the company’s strong full-year performance. However, the decline did come at a time when there was news that Queensland’s Energy Minister Mark Bailey had called for an investigation into the state’s fuel market. This could have made some investors nervous.

What is clear though is that this sell-off has left the shares at a great price now for investors. Priced at just 15 times estimated forward earnings is a much lower multiple than where it has been trading in recent years.

According to the brokerage arm of the Commonwealth Bank of Australia (ASX: CBA), analysts are expecting earnings to grow by 12% per annum through to 2018.

I believe this growth will be supported by its extensive retail network which is growing each year. At the end of the last fiscal year Caltex had 496 convenience stores and 795 service stations owned or leased. This is excluding around 500 owned by Woolworths Limited (ASX: WOW).

I expect that Caltex will continue to increase its retail network in 2016. This should further bolster its market-leading position and help provide its shareholders with strong gains for years to come.

Computershare Limited (ASX: CPU)

The shares of Computershare have declined by 15% since the start of 2016 thanks to its disappointing interim results.

The market had been expecting a lot from Computershare this year and its failure to deliver on this led to the sell-off. It is now priced at 13 times estimated forward earnings which is significantly lower than the Information Technology sector average of 22 times estimated forward earnings.

The strong US dollar will continue to be a major headwind for the company for a few years to come. But proposed deals to put them in the loan and mortgage servicing business in the United States and the United Kingdom could help offset this and be a boost to earnings in the future. As will rising US interest rates.

The company does face stiff competition from Link Administration Holdings Ltd (ASX: LNK) in the share registry sector, but at the current price, I believe Computershare could be a great investment today.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia owns shares of Computershare. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.