4 TSX Stocks That Hit a 52-Week Low: Should You Buy the Dip?

Canadians should monitor TSX stocks like Kinaxis Inc. (TSX:KXS) and others that fell to 52-week lows this past week.

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The S&P/TSX Composite Index plummeted by 607 points on Thursday, June 16. This represented its biggest single-day loss in two years. It pushed the top Canadian stock index even further into bear market territory ahead of the summer season. Today, I want to look at four TSX stocks that have sunk to a 52-week low. Are these equities worth snatching up on the dip? Let’s find out.

Should you buy this top tech stock on the dip in late June?

Kinaxis (TSX:KXS) is an Ottawa-based company that provides cloud-based subscription software for supply chain operations in Canada and around the world. Canada has carved out a promising piece of the global supply chain software space largely on the back of this company’s success. Shares of this TSX stock have plunged 29% in 2022 as of close on June 16. That pushed the stock into negative territory in the year-over-year period.

In Q1 2022, Kinaxis posted SaaS revenue growth of 22% to $49.3 million. Meanwhile, total revenue increased 70% to $98.1 million. This tech stock is trading in favourable value territory compared to its industry peers. It also boasts an immaculate balance sheet.

Here’s an explosive TSX stock that just sank to a 52-week low

goeasy (TSX:GSY) is a Mississauga-based company that provides non-prime leasing and lending services to Canadian consumers. Its shares have dropped 45% so far in 2022. That also put goeasy into the red in the year-over-year period.

This company unveiled its first-quarter 2022 earnings on May 11. Loan originations increased 75% from the prior year to $477 million. Meanwhile, its loan portfolio jumped 69% to $2.15 billion. This TSX stock possesses a very attractive price-to-earnings (P/E) ratio of 10. Better yet, this Dividend Aristocrat offers a quarterly distribution of $0.91 per share.

This TSX stock offers nice value and some income

Toromont Industries (TSX:TIH) is a Toronto-based company that provides specialized capital equipment in North America and around the world. Shares of this TSX stock have dropped 13% so far this year. The stock has declined 7% from the same period in 2021.

Investors got to see Toromont’s first-quarter 2022 results on April 27. It saw revenues jump 7% from the previous year to $860 million. Meanwhile, it reported net earnings of $59.5 million or $0.72 per share — up from $48.0 million, or $0.58 per share, in the first quarter of 2021.

This TSX stock is still trading in favourable value territory over its top competitors. It offers a quarterly dividend of $0.39 per share, representing a modest 1.5% yield.

One more TSX stock that has plunged to a 52-week low

FirstService (TSX:FSV)(NASDAQ:FSV) is the fourth TSX stock I want to zero in on that hit a 52-week low in yesterday’s trading session. This Toronto-based company provides residential property management and other essential property services to residential and commercial customers in North America. Shares of FirstService have plunged 39% in 2022.

In Q1 2022, revenues rose to $834 million compared to $711 million in the previous year. Meanwhile, adjusted EBITDA was reported at $62.3 million — up from $59.8 million in the first quarter of 2021. This stock likely carries even more risk in the near term, as the North American real estate sector will face a tremendous test in this rate-tightening environment.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Ambrose O'Callaghan has positions in KINAXIS INC and goeasy Ltd. The Motley Fool recommends FirstService Corporation, SV and KINAXIS INC.

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