5 More Top Growth Stocks

Are you really a growth investor?

It's worth asking. Having taken a beating recently, quick-moving tech stocks have opened up a slew of bargains for those with the guts to buy.

No surprises there. Market panics occur daily. Just ask investors who hold shares of Infinera (Nasdaq: INFN), which yesterday fell more than 6% on no news whatsoever. Sheesh.

That's why all-star investors bet on growth over the very long term. They know that:

• Businesses that make investors billions always begin as growth stocks.
• The best of them feature massive and identifiable competitive advantages.
• Growth as a strategy has the capacity to deliver 20% or greater annual returns for decades at a time. 

How we do it
Of course, not all growth stocks will do. Our weekly hunt is for the next great multibagger. But unlike David Gardner and his team at Motley Fool Rule Breakers, who scour everything from financial statements to trade magazines to clinical reports in their research, we're going to rely on our Motley Fool CAPS investor-intelligence database.

Specifically, we're looking for stocks that have earned a five-star rating in CAPS and are expected to grow their earnings by at least 20% annually over the next five years. Five-star stocks are those that the community, on the whole, believes will outperform the S&P 500.

Let's have the list
Now, with that preamble behind us, here are five more top growth stocks:

Bear in mind that this isn't a list of recommendations. Instead, I offer these stocks as candidates for further research.

We have some cheap growers to work with -- Diamond Offshore, for example. Its 0.59 PEG ratio, though roughly in line with industry peers such as Atwood Oceanics (NYSE: ATW), suggests to me that this stock still has room to run.

Former top grower 51job, meanwhile, is giving investors plenty of reasons to believe, and China Petroleum & Chemical is still cheap according to the judgment of many of CAPS' best stock pickers. 

Build a bridge to profits
Nevertheless, my top choice for today is Chicago Bridge & Iron. Hang on while I hand the mic to colleague TMFDeej, a CAPS All-Star, to explain the thesis. Quoting from a pitch he made in February:

[Chicago Bridge & Iron] is a global technology, engineering, procurement, fabrication, and construction company focused on the energy sector. It designs and builds a wide-range of projects including liquefied natural gas (LNG) facilities, refineries, pipelines, offshore structures, bulk liquid terminals, and water storage / treatment facilities for its clients. The company also provides maintenance and repair service for chemical plants and refineries.

And it's a smooth operator. Margins have kept steady as returns on equity and capital have soared in recent years.

That's not all. CBI's backlog rose 27% in the just-reported first quarter. That's as good an indicator as you'll get that growth will continue as it has. Chicago Bridge & Iron joins my CAPS portfolio today.

But that's me. What would you do? Would you buy Chicago Bridge & Iron at today's prices? Let us know by signing up for CAPS today. It's 100% free to participate.

See you back here next week with five more top growth stocks. Fool on!