It’s the start of a new year, with many of us perhaps receiving a few dollars in our stocking. Whether it’s from a holiday bonus or your grandma, the result should be the same: spend wisely!
Which is why today we’re going to look at three of the best stocks investors should consider if they have $1,000 on hand on the TSX today. So without beating around the bush, let’s get into it.
A solid choice for investors these days should certainly include TFI International (TSX:TFII). TFI stock has a strong future outlined as the company executed on new, simple acquisitions for its trucking portfolio. This includes Daseke, which holds a healthy fleet of trucks that should help TFI stock delay renewal of its own fleet.
What’s more, TFI stock should certainly see more acquisitions like this one in the future. The company has a strong balance sheet with plenty of cash on hand. Therefore, once valuable opportunities like Daseke come its way, the transportation and logistics leader is sure to latch on.
Therefore, even with shares of TFI stock up about 25% in the last year alone, analysts believe there is more room to run. The company continues to have “sizeable potential” in the words of one analyst. Further, it offers a management team that continues to reward investors through dividends and buybacks, on top of these solid acquisitions.
Another top stock to consider, especially as inflation evens out, is Jamieson Wellness (TSX:JWEL). This stock has continued its growth momentum in North America over the last year, but analysts see even more opportunities with growth in China.
Despite having a long and strong history in Canada, analysts warn investors not to ignore it when it comes to growth in other countries. Management is already pushing for more literal shelf space to increase organic growth by 4% to 5% each year. This will also be supported by more innovations and products.
Yet again, China also presents an opportunity, as the company stated the Chinese market is “on a health kick” these days. Therefore the stock should see an increase in its Asian retail market as well. While there could certainly be ups and downs in the future due to economic and geopolitical issues, overall Jamieson stock looks like a solid buy. Especially with a 2.5% dividend yield to consider.
Now I would normally recommend Constellation Software (TSX:CSU). However, if you have $1,000 on hand, that’s not going to cut it. Though the software company had a solid year, reaching a record $2.3 billion in acquisitions. Still, you can simply go to its spinoff company, Topicus.com (TSXV:TOI).
Topicus stock is literally a spinoff of Constellation stock, and therefore could be like buying Constellation stock out the gate. And that could be incredible given it has seen shares rise from double digits to four digits in the last two decades.
Topicus stock meanwhile has done quite well, making strong acquisitions across Europe. Shares are now up 38% in the last year, and there is likely a lot more to come as we head into the new year. So at the very least, keep this stellar stock on your radar on the TSX today.