1 of the UK shares I’d buy now and aim to double my money

The situation in the UK stock market looks promising to me. And I think we’re in one of the best investment environments in years. Therefore, it is the best time to look for UK stocks that can double my money in a reasonable time.

Last year’s bear market for stocks pushed down many share prices. And the general economic and geopolitical situation has caused many businesses to experience operational difficulties. But some companies are already healing. And several companies have released upbeat trading updates and positive outlook statements recently.

Outlook has improved

The market has caught on to the news. And over the past few weeks, we’ve seen many stocks move higher as businesses beat investors’ earlier expectations.

So, there is good scope for some stocks to return to their former glory. And there is also a lot of potential for businesses with previously suppressed trading to generate income in the future. Therefore, I expect some UK stocks to return around 100% for shareholders through 2023 and beyond. All I have to do is find it.

And on that front, one of the companies I’m looking at is Victorian pipes (LSE: VIC). The directors describe the company as “The UK’s leading online specialist bathroom retailer.” And that’s a good start, for me, because I’ve always considered the pipeline supply sector to be resilient.

The company came to the stock market in June 2021 and the share price at that time was around 330p. However, today it sits near 90p. And 2022 is a bad year for the business income.

Recovery and growth in motion

However, City analysts have pegged a strong recovery with double earnings for this year and next. And the Victorian released an upbeat full-year report in December. Results for the year up to 30 September 2022 are coming “ahead of expectations”. And the director said the revenue in the second half of the year is huge, so it shows “Trading momentum continues and market share gains continue.”

Furthermore, the director considers the macro operation and the economic environment as an opportunity to further strengthen the position of the Victorian market. And if the business can expand as expected, I think there is a chance and a strong double-digit advance in earnings can continue.

Nothing is certain, but rising earnings could send the stock price higher, perhaps even doubling.

Meanwhile, the balance sheet looks strong and there is a healthy net cash position in the bank. The directors confirmed their confidence in trading and the outlook by announcing a first ordinary shareholder dividend of 1.1p per share. But it doesn’t stop there. They also announced an additional special dividend of 1.7p per share.

It seems to me the business is firing on all cylinders. However, over the past year, the share price has fallen by around 20%. Meanwhile, the price seems fair with multiple expected earnings running close to 16 for 2024.

Maybe my optimism is misplaced. And the Victorian growth trajectory could stall next month. But if I had the money to invest now, I would dive deep into researching this opportunity. And I intend to buy some stocks that I will hold for the long term if I am satisfied with the results of further investigation.