Top Mid-Cap Stocks For Q2 2022

X, APPS, and CAR were top for value, growth, and momentum, respectively

Mid-cap stocks are companies with market capitalizations generally between $2 billion and $10 billion. As implied, in size they fall in the middle of small-cap and large-cap stocks. While mid-cap companies are generally larger than small-cap stocks, they can experience volatility in times of market turbulence, which may temporarily drop their market caps far below $2 billion or send them dramatically above $10 billion. Investors often look to mid-cap stocks as being more stable than small-caps, while providing stronger growth opportunities compared with large-cap companies. Mid-cap stocks are seen as a key tool in portfolio diversification because they provide a balance of growth and stability. Some of the stocks classified as mid cap include Park Hotels & Resorts Inc., DCP Midstream LP, and Range Resources Corp.

Mid-cap stocks, as represented by the benchmark S&P MidCap 400 Index, have underperformed the broader market. The index has provided 1-year trailing total returns of 0.9%, behind the Russell 1000's total return of 10.2%. These market performance numbers and the statistics in the tables below are as of April 5, 2022.

Here are the top three mid-cap stocks with the best value, fastest growth, and most momentum.

Best Value Mid-Cap Stocks

These are the mid-cap stocks with the lowest 12-month trailing price-to-earnings (P/E) ratio. Because profits can be returned to shareholders in the form of dividends and buybacks, a low P/E ratio shows that you’re paying less for each dollar of profit generated.

Best Value Mid-Cap Stocks
  Price ($) Market Cap ($B) 12-Month Trailing P/E Ratio 
United States Steel Corp. (X) 36.78 9.6 2.5
Silicon Laboratories Inc. (SLAB 143.15 5.5  3.0
Bread Financial Holdings Inc. (BFH) 54.89 2.7 3.4

Source: YCharts

  • United States Steel Corp.: United States Steel is a steel producer with operations in the U.S. and Central Europe. The company makes high value-added steel products, including its proprietary XG3 advanced high-strength steel. It serves the automotive, construction, appliance, energy, containers, and packaging industries. On March 17, the company provided guidance for Q1 2022, forecasting that the company would post a record quarterly EBITDA of approximately $1.3 billion, and adjusted diluted earnings per share between $2.96 and $3.00. The company said its businesses was enjoying strong demand and rising prices.
  • Silicon Laboratories Inc.: Silicon Laboratories designs, develops, and sells semiconductors and related devices. Its products include integrated circuits, microcontrollers, and wireless connectivity devices.
  • Bread Financial Holdings Inc.: Bread Financial Holdings is a financial services holding company. Through subsidiaries, it provides personalized payment, lending, and saving solutions. On March 23, the company Alliance Data announced that it had changed its name to Bread Financial, reflecting the company's transformation into a financial services company focusing on the consumer market.

Fastest Growing Mid-Cap Stocks

These are the top mid-cap stocks as ranked by a growth model that scores companies based on a 50/50 weighting of their most recent quarterly YOY percentage revenue growth and their most recent quarterly YOY earnings-per-share (EPS) growth. Both sales and earnings are critical factors in the success of a company. Therefore ranking companies by only one growth metric makes a ranking susceptible to the accounting anomalies of that quarter (such as changes in tax law or restructuring costs) that may make one or the other figure unrepresentative of the business in general. Companies with quarterly EPS or revenue growth of over 2,500% were excluded as outliers.

Fastest Growing Mid-Cap Stocks
  Price ($) Market Cap ($B)  EPS Growth (%) Revenue Growth (%)
Digital Turbine Inc. (APPS) 42.72 4.1 -53.3 323.8
Park Hotels & Resorts Inc. (PK) 18.79 4.4 N/A (see company description) 299.1
EQT Corp. (EQT) 36.23 13.6 1,940.0  235.7

Source: YCharts

  • Digital Turbine Inc.: Digital Turbine offers an independent mobile advertising platform for advertisers, publishers, operators and other customers. Its mobile services platform provides portal management, content development, billing technology, and other services. On Feb. 8, the company reported results for Q3 FY 2022, ended Dec. 31, 2021. Net income fell more than half (YOY) even as net revenue more than quadrupled. Net income was impacted by an $18.2 million fair value adjustment. Both the company's On-Device Media and In-App Media businesses saw sizable revenue growth.
  • Park Hotels & Resorts Inc.: Park Hotels & Resorts is a real estate investment trust (REIT) that owns a diverse portfolio of hotels and resorts. Its properties are operated under internationally recognized brand names, including Hilton, Hyatt, and Marriott. Park Hotels had negative EPS for the most recent quarter, making a YOY growth calculation impossible.
  • EQT Corp.: EQT is an integrated energy company focused on natural gas production in the Appalachian area. The company explores for and produces natural gas and natural gas liquids (NGLs). On March 28, EQT announced that Standard & Poor's Global Ratings and Fitch Ratings had upgraded the company's credit rating to BBB- with a "stable outlook." The company said it planned to make substantial progress this year in retiring $1.5 billion in debt by 2023.

Mid-Cap Stocks with the Most Momentum

These are the mid-cap stocks that had the highest total return over the last 12 months.

Mid-Cap Stocks with the Most Momentum
  Price ($) Market Cap ($B) 12-Month Trailing Total Return (%)
Avis Budget Group Inc. (CAR) 276.71 14.9 268.9
Range Resources Corp. (RRC) 31.10 8.2 207.6 
Alcoa Corp. (AA) 87.71 16.2 178.9
Russell 1000 N/A N/A  10.2
S&P MidCap 400 N/A  N/A  0.9

Source: YCharts

  • Avis Budget Group Inc.: Avis Budget Group is primarily a vehicle rental company. It operates brands including Avis, Budget, and Zipcar, among others mainly in North America, Europe, New Zealand, and Australia. On Feb. 14, the company reported results for Q4 2021 ended Dec. 31, 2021. Avis posted net income of $381 million, compared with a net loss for the prior-year quarter. Revenues nearly doubled YOY. The company attributed the growth in part to sharp increases in both revenue per day and rental days due to growing consumer demand.
  • Range Resources Corp.: Range Resources is an independent natural gas and NGL producer. The company focuses on low-cost, high-return operations in the Appalachian Basin known as "stacked-pay" projects. These projects involve a single vertical well with the potential to yield oil at varying depths.
  • Alcoa Corp.: Alcoa is a leading producer of aluminum, bauxite, and alumina products. The company serves customers in the aluminum industry around the world. Its operations include smelting and casting to create aluminum products such as billet, foundry, rod, and slab.

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  2. United States Steel Corporation. "Overview: U.S. Steel."

  3. United States Steel Corp. "United States Steel Corporation Provides First Quarter 2022 Guidance."

  4. Silicon Labs. "About Us."

  5. Bread Financial Holdings Inc. "Alliance Data is now Bread Financial."

  6. Digital Turbine Inc. "Digital Turbine Reports Fiscal 2022 Third Quarter Financial Results."

  7. EQT Corp. "EQT Achieves Investment Grade Credit Ratings."

  8. Avis Budget Group Inc. "About Us."

  9. Avis Budget Group Inc. "Avis Budget Group Reports Record Revenues, Net Income and Adjusted EBITDA."

  10. U.S. Securities and Exchange Commission. "Range Resources Corporation," Page 7.

  11. Alcoa. "Products: Creating Products For A More Sustainable World."

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