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Is Speedcast International Ltd the hottest growth stock on the ASX right now?

Satellite-based communication network company Speedcast International Ltd’s (ASX: SDA) is flying high.

Speedcast shares closed at $5.90 on April 26, a 52-week high for the stock – up from $3.70 at this time last year.

Speedcast’s annual report looks to be one to brag about, with revenue growth of 136% to US$514.2 million, EBITDA up 195% on the previous year and NPATA per share up 41% at 13.5c per share.

Speedcast became the largest remote communications services provider in the world in 2017 following its Harris CapRock transaction, and is positioned well for future growth in 2018 and beyond.

UBS slapped a buy rating on Speedcast back in February with a price target of $5.80 – certainly one to do some due diligence on.

Speedcast is in good company on the 52-week high list this week with Healthscope Ltd (ASX: HSO) flying high at $2.33 at April 26 close, off the back of an acquisition proposal from a consortium of financial investors.

Natural gas producer Santos Ltd (ASX: STO) shares are also at a 52-week high this week – up from $3.64 to an April 26 close of $6.20.

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Motley Fool contributor Carin Pickworth has no position in any of the 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 Scott Phillips.

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