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Why these 3 ASX shares have gone gangbusters this year

Although recent volatility means that the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has managed a gain of just 1.2% so far in 2017, not all shares have performed so poorly.

In fact, a few shares have not just beaten the market, but gone absolutely gangbusters this year.

Three shares that have done this are listed below. Is it too late to invest?

The Costa Group Holdings Ltd (ASX: CGC) share price has gained 41% since the start of the year thanks largely to an impressive first-half result from Australia’s leading grower, packer, and marketer of fresh fruit and vegetables. Due to a combination of favourable pricing, strong demand, and the benefits from the Avocado Ridge acquisition, management upgraded its full-year profit growth guidance to between 15% to 25%. But with its shares now trading at 32x trailing earnings, I think they are fully valued now.

The Qantas Airways Limited (ASX: QAN) share price has gained a remarkable 73% year-to-date. Low oil prices, significant cost savings, and bullish broker notes have all played a key role in driving the airline’s shares higher this year. If oil prices stay favourable for a little while longer I feel there could still be reasonable upside for its share price. But it may be prudent to wait for next week’s full-year result before making an investment.

The Swift Networks Group Ltd (ASX: SW1) share price has rocketed a massive 89% since the turn of the year. With the company on course to swing from a $1.5 million EBITDA loss in FY 2016 to a $1 million profit in FY 2017, I can’t say I’m overly surprised by the rise in its shares this year. The good news is that with demand for the telecommunications and digital entertainment company’s services growing strongly in the resources and aged care sectors, I expect the company will build on this strong profit result in FY 2018.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of June 30th

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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.

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