3 Stocks at 52-Week Lows I’d Buy Right Now!

Top stocks like Tecsys Inc. (TSX:TCS) have hit a rough patch in recent weeks, which means they are ripe for a value buy!

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The S&P/TSX Composite Index rose just 24 points on Wednesday, June 14. Some of the top-performing sectors on the TSX included battery metals, information technology, and industrials. Meanwhile, sectors like energy, health care, and utilities finished the day in the red. Today, I want to look at three TSX stocks that have dropped to 52-week lows over the past two weeks. In this piece, I want to explain why I’m looking to buy the dip in these ailing equities. Let’s dive in!

This undervalued stock is worth snatching up right now

Tecsys (TSX:TCS) is a Montreal-based company that is engaged in the development, marketing, and sale of enterprise-wide supply chain management software and related services in Canada, the United States, Europe, and around the world. Shares of this tech stock have dropped 3.7% month over month as of close on June 14. That has pushed the stock into negative territory so far in 2023.

Investors can expect to see Tecsys’s fourth-quarter and full-year fiscal 2023 earnings later this month. In the third quarter of fiscal 2023, the company saw SaaS revenue climb 36% year over year to $9.5 million. Meanwhile, SaaS subscription bookings surged 152% to $5.8 million. Annual recurring revenue increased 27% to $75.4 million and professional services revenue jumped 5% to $13.6 million. Total gross profit grew 12% to $17.0 million.

This TSX stock hit a 52-week low of $23.93 late last week. The tech stock is trading in favourable value territory compared to its industry peers. Tecsys also offers a quarterly dividend of $0.075 per share. That represents a modest 1.2% yield.

Why I’m looking at Neighbourly Pharmacy stock in June

Neighbourly Pharmacy (TSX:NBLY) is a Toronto-based company that owns and operates a chain of retail pharmacies across Canada. Shares of this TSX stock have plunged 8.3% over the past month. Meanwhile, the stock has declined 19% in the year-to-date period.

This company unveiled its fourth-quarter and full-year fiscal 2023 earnings on June 8. In the fourth quarter, Neighbourly delivered revenue growth of 69% to $190 million. Meanwhile, same-store sales increased 1.6% year over year, and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) soared 73% to $19.6 million. For the full year, the company posted revenue growth of 75% to $749 million and adjusted EBITDA surged 72% to $79.2 million.

Shares of this TSX stock hit a 52-week low of $18.25 late last week. This TSX stock is trading in very attractive value territory compared to its top competitors. The Relative Strength Index (RSI) is a technical indicator that measures the price momentum of a given security. Neighbourly last had an RSI of 31, putting it just outside technically oversold levels.

One more undervalued stock I’d snatch up today

Sangoma Technologies (TSX:STC) is the third and final TSX stock I’d like to snatch up on the dip today. This Markham-based company manufactures, distributes, and supports voice and data connectivity components for software-based communication applications around the world. Its shares have dipped 1.3% week over week as of close on June 14. The stock is down 15% so far in 2023. Sangoma hit a 52-week low of $4.33 late last week.

In the third quarter of fiscal 2023, this company delivered sales growth of 18% to $62.7 million. Meanwhile, gross profit jumped 19% to $44.4 million. Adjusted EBITDA surged 17% to $12.2 million. This is another stock that is trading in very favourable value territory relative to the industry average.

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 no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tecsys. The Motley Fool has a disclosure policy.

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