These 4 Stocks Signal a Tremendous Buying Opportunity

 These 4 stocks signal a huge buying opportunity

The stock market has rebounded significantly since the beginning of the year. The easing of inflation and the expected stabilization of interest rates lifted investor sentiment. In addition, the economy has been doing better than many had predicted, fueling a rally in stocks

While several TSX stocks have seen stellar growth, several high-quality Canadian stocks with fundamentally strong businesses have not participated in the rally and are trading at significantly lower valuations, signaling a buying opportunity near current levels.Against that backdrop, here are four Canadian stocks that are compelling investments near current levels.

Trading at a trailing 12-month-to-sales (EV/Sales) multiple of 1.9, digital healthcare company WELL Health  shares are too cheap to ignore. WELL Health has seen its share price rebound, led by its strong financial results. Despite the recent rally, WELL Health stock is trading well below its historical average, providing a solid entry point near current levels.

While the tech stock trades cheaply, growth in multi-channel patient visits and continued strength in the high-margin virtual services business provides a solid platform for growth. Also, its focus on acquisitions, investment in artificial intelligence and ability to generate sustainable profit bodes well for growth.

The speed of light

Like WELL Health, Lightspeed (TSX:LSPD) is another impressive stock on the valuation front. The company's tradable shares are trading at an NTM EV/Sales ratio of two, well below the pre-COVID level of 18. Lightspeed shares offer significant value near current levels. It also continues to deliver strong sales, driven by the continued shift to omnichannel sales platforms, which is increasing demand for its payment offerings.ÂÂ

Lightspeed is also streamlining its operations and targeting high-value customers, which will increase its average revenue per user, reduce churn and drive more module adoption. Also, its ability to acquire and integrate companies is likely to expand customer locations, support product development and accelerate growth

Let's move from technology to financial services company goeasy (TSX:GSY). Stocks fell on macroeconomic concerns. However, macro headwinds had no effect on his performance. goeasy continues to grow rapidly, resulting in higher loan volume, stable credit performance and operating leverage.

goeasy shares trade at an NTM price-to-earnings multiple of 9.4, which is lower than its historical average of 12. Additionally, it offers solid double-digit EPS (earnings per share) growth, making its stock attractive. investments close to the current level. Goeasy also consistently increases its dividend and is a dividend aristocrat, making it a reliable income stock. Overall, goeasy offers high growth, regular income and solid value near current levels

Brookfield Renewable Partners

Clean energy company Brookfield Renewable Partners (TSX:BEP.UN) is the last stock on this list. Increased adoption of renewable energy sources, growing focus on energy security and favorable political support make green energy a compelling investment avenue.

With its highly diversified green energy assets, 31,600 megawatts of installed capacity and robust development pipeline, Brookfield is a top investment in this space. The company is expected to benefit from its highly contracted portfolio and long-term power purchase agreements that increase visibility of its future cash flows. Its low-cost infrastructure will further dampen margins and support earnings growth. The stock has seen a decline and offers a good entry point near current levelsThe post These 4 Stocks Signal a Tremendous Buying Opportunity appeared first on The Motley Fool Canada.

Should you invest $1,000 in Brookfield Renewable Partners?

Before you consider Brookfield Renewable Partners, you'll want to hear this.Our team of market-beating analysts just revealed what they believe are the top 5 stocks for investors to buy in July 2023… and Brookfield Renewable Partners was not on the list.

Motley Fool Stock Advisor Canada, an online investment service they've been running for nearly a decade, is beating the TSX by 29 percentage points. And right now, he thinks there are 5 stocks that are better to buy.

WELL Health shares could rise 86%, analysts sayCanadian Blue-Chip Stocks: The Best of the Best for August 2023TFSA Passive Income: 4 Stocks to Buy and Never SellIs Lightspeed Commerce Stock a Buy?Beginners: 4 TSX Stocks I'd Buy Now!

Crazy contributor Sneha Nahata has no position in any of the stocks mentioned. The Motley Fool recommends Brookfield Renewable Partners and Lightspeed Commerce. The Motley Fool has a disclosure policy.

These 4 stocks signal a huge buying opportunity

The stock market has jumped significantly since the beginning of the year. The easing of inflation and the expected stabilization of interest rates lifted investor sentiment. In addition, the economy is doing better than many predicted, which is supporting the rise in stocks

While several TSX stocks posted stellar gains, several high-quality Canadian stocks with fundamentally strong businesses did not participate in the rally and are trading at significantly lower valuations, signaling a buying opportunity near current levels.

With that in mind, here are four Canadian stocks that are compelling investments near current levels.Trading at a trailing 12-month to Sales (EV/Sales) multiple of 1.9, shares of WELL Health (TSX:WELL) are too cheap to ignore. WELL Health has seen a share price recovery, led by strong financial results. Despite the recent rally, WELL Health stock is trading well below its historical average, providing a solid entry point near current levels.

While tech stocks are trading cheap, growth in multi-channel patient visits and continued strength in high-margin virtual services provides a solid platform for growth. Also, its focus on acquisitions, investment in artificial intelligence and ability to generate sustainable profit bodes well for growth.

The speed of light

Like WELL Health, Lightspeed (TSX:LSPD) is another impressive stock on the valuation front. The company's marketable shares are trading at an NTM EV/Sales ratio of 2, which is well below pre-COVID 18 levels. Lightspeed shares offer significant value near current levels. It also continues to deliver strong sales, driven by the continued shift to omnichannel sales platforms, increasing demand for its payment offerings.ÂÂÂ

Lightspeed is also streamlining its operations and targeting high-value customers, which will increase its average revenue per user, reduce churn and drive greater module adoption. Also, its ability to acquire and integrate companies is likely to expand customer locations, support product development and accelerate growth

Let's move from technology to financial services company goeasy (TSX:GSY). Stocks fell on macroeconomic concerns. However, macro headwinds had no effect on his performance. goeasy continues to grow rapidly, resulting in higher loan volume, stable loan performance and operating leverage.

goeasy shares trade at an NTM price-to-earnings multiple of 9.4, which is lower than its historical average of 12. Additionally, it offers solid double-digit EPS (earnings per share) growth, making its stock attractive. investments close to the current level. Goeasy also consistently increases its dividend and is a dividend aristocrat, making it a reliable income stock. Overall, goeasy offers high growth, regular income and solid value near current levels

Brookfield Renewable Partners

Clean energy company Brookfield Renewable Partners (TSX:BEP.UN) is the last stock on this list. Greater adoption of renewable energy sources, increasing focus on energy security and favorable political support make green energy a compelling investment avenue.

With its highly diversified green energy assets, 31,600 megawatts of installed capacity and a robust development pipeline, Brookfield is a top investment in this space. The company is expected to benefit from its highly contracted portfolio and long-term power purchase agreements that increase visibility of its future cash flows. Its low-cost infrastructure will further cushion margins and support earnings growth. The stock has seen a decline and offers a good entry point near current levelsThe post These 4 Stocks Signal a Tremendous Buying Opportunity appeared first on The Motley Fool Canada.

Should you invest $1,000 in Brookfield Renewable Partners?Before you consider Brookfield Renewable Partners, you'll want to hear this.Our team of market-beating analysts just revealed what they believe are the 5 best stocks for investors to buy in July 2023… and Brookfield Renewable Partners wasn't on the list.

The Motley Fool Stock Advisor Canada, an online investment service they've been running for nearly a decade, beats the TSX by 29 percentage points. And right now, he thinks there are 5 stocks that are better to buy.

Crazy contributor Sneha Nahata has no position in any of the stocks mentioned. The Motley Fool recommends Brookfield Renewable Partners and Lightspeed Commerce. The Motley Fool has a disclosure policy.