The markets have been struggling in recent days, and while that may have some investors panicking, it’s a great opportunity to scoop up some deals. The three stocks listed below are all solid growth stocks that can make for some solid long-term buys, and with their share prices dipping in value, they look like even better buys today.
Canada Goose Holdings (TSX:GOOS)(NYSE:GOOS) closed below $40 to end last week, as it hit a 52-week low. It was only a little more than a year ago, back in November 2018, that the stock was trading at over $90 per share. It’s fallen significantly since then as a slowing growth rate and concerns around the Chinese market have weighed heavily on the stock. But with profits in four the past five quarters and sales growth of 28% in its most recent earnings report, Canada Goose is still doing very well and growing at a good pace.
Trading at a forward price-to-earnings (P/E) ratio of just 19 and a PEG ratio of around one, it’s a good valuation today, and it may not last long. The company is expected to release its earnings later this week, and a good result could send the stock back up in a hurry.
Great Canadian Gaming (TSX:GC) may not be at its 52-week low just yet, but it’s getting close. Also at under $40 as of last week, Great Canadian stock hasn’t fallen nearly as much as Canada Goose has — a year ago it was over $50 — but it too has been in a bit of a free fall. The gaming stock is coming off a quarter that saw flat growth from the prior year, but that could prove to be an anomaly. With some attractive deals in place to help Great Canadian to grow over the long term, including the Woodbine Racetrack and three other locations in Ontario, investors shouldn’t expect the growth to have run out just yet.
The stock is also trading at a modest forward P/E of less than 18, and its PEG ratio is around 1.5, which also suggests the stock is an attractive price given the growth potential that Great Canadian has.
Seven Generations Energy (TSX:VII) is less than $1 away from its 52-week low, closing last week at $6.64. With profits in five straight quarters, the oil and gas stock has maintained some stability, despite the challenges that exist in the industry today. While investors may be concerned that a low price of oil may hurt Seven Generations and other oil and gas stocks, Saudi Arabia is considering making larger cuts to oil production in an effort to keep oil prices up amid concerns that demand is starting to stall.
Although there’s a bit more risk surrounding Seven Generations, the stock is trading at an even steeper discount because of that. At a forward P/E of just nine and a PEG of only 0.15, it’s definitely the cheapest stock on this list if the company’s growth pans out as analysts are expecting. It’s also well below its book value. The stock’s been sliding more than 20% to start 2020, and it could be a matter of time before it starts to see some support.
One little-known Canadian IPO has doubled in value in a matter of months, and renowned Canadian stock picker Iain Butler sees a potential millionaire-maker in waiting...
Because he thinks this fast-growing company looks a lot like Shopify, a stock Iain officially recommended 3 years ago - before it skyrocketed by 1,211%!
Iain and his team just published a detailed report on this tiny TSX stock. Find out how you can access the NEXT Shopify today!