Anytime there is significant volatility in the markets and several factors impacting stock performance across different sectors, it can be a challenging time to find the best TSX stocks to buy. However, it’s also a great opportunity for smart investors to buy top TSX stocks while they’re still cheap.
Factors such as skyrocketing inflation, rapidly rising interest rates, and a potential recession are significant headwinds to be cognizant of. In times like these, it’s important to find top companies that can weather the storm and still perform strongly in this environment.
With that in mind, if you have some cash that you’re looking to invest, here are three smart investments to make today.
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One of the best TSX stocks to buy right now
In the current environment, there are a handful of stocks that have the ability to grow their profitability, making them some of the best TSX stocks to buy now. One of these high-potential stocks is StorageVault Canada (TSX:SVI).
StorageVault Canada owns and operates self-storage facilities across Canada, in addition to portable storage spaces, and it’s grown rapidly by acquisition in recent years. This has led to a more than doubling of its revenue in the last three years alone.
In addition to StorageVault’s incredible performance and portfolio expansion, one of the reasons it’s a top TSX stock to buy now is because it has a tonne of tailwinds in the current environment.
Self-storage facilities almost always do well when the economy slows down and there are fears of a recession. Furthermore, in this high inflation environment, it’s a stock with low operating costs. Plus, because its rental terms are typically very short, it has a tonne of pricing power.
Therefore, if you’ve got cash and are looking to make a smart investment right now, StorageVault Canada is one of the top TSX stocks to buy.
High-quality, undervalued growth stocks are excellent investments to make today
In addition to stocks that benefit from the current environment, another smart investment to make today is in high-quality growth stocks that you can buy at a discount. That’s why Aritzia (TSX:ATZ), which is trading more than 25% off its highs, is certainly one of the top TSX stocks to buy now.
Aritzia is an incredibly popular women’s fashion retailer that continues to defy odds and grow its business exponentially. From 2018 to 2022, Aritzia more than doubled its revenue as it rapidly expanded its store count and its e-commerce platform continued to gain popularity.
That’s not all, though. Over that same stretch, the stock grew its net income by an impressive 175%. Furthermore, with nearly double the stores in Canada that it has in the U.S., Aritzia has a long runway for growth.
Therefore, while the stock still trades well off its highs, Aritzia is one of the smartest TSX stocks you can buy now.
Reliable dividend stocks can help protect your portfolio in this environment
Lastly, in addition to stocks benefiting from tailwinds in this environment and top-notch growth stocks trading ultra-cheap, another option for smart investing is a reliable dividend stock that can protect your capital.
A company like BCE (TSX:BCE)(NYSE:BCE), for example, is one of the best TSX stocks to buy now. BCE is a massive telecommunications company with highly essential operations.
Furthermore, due to its business model and the long-life assets it owns, the stock is a cash cow, constantly seeing tonnes of capital flow into its business.
This makes it incredibly reliable. Plus, because it’s such a large and dominant stock that pays an attractive dividend yield of 5.7%, it’s a low-volatility option that can add defence to your portfolio.
If you’re worried about the market environment and looking to shore up your portfolio, BCE is one of the smartest TSX stocks to buy now.
