3 growth stocks to buy right now

Coca-Cola Amatil Ltd (ASX:CCL), Flight Centre Travel Group Ltd (ASX:FLT) and Village Roadshow Ltd (ASX:VRL) offer stunning long-term potential, but are they priced to buy?

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With the earnings season slowly drawing to an end, now is the best time for investors to rebalance their portfolios and search for shares offering a bright future outlook. However, given the ASX's stellar run in the past few months and Australia's record low interest rates, investors are finding it harder to pick-out attractively priced stocks. It's therefore important to find a balance of both dividends and growth, at a decent price, to minimise downside potential.

Here are three stocks that provide exceptional long-term growth prospects to investors, as well as a reasonable price tag, making them a buy at the moment.

1. Coca-Cola

Arguably the world's most popular beverage manufacturer Coca-Cola Amatil Ltd (ASX: CCL) has become one of the most unloved stocks in the market. Shares have taken a beating in the last year to hit 52-week lows. This given competition from rival Schweppes and margin pressures from supermarket chains like Woolworths Limited (ASX: WOW). Coca-Cola's latest half-yearly results didn't impress either, reporting a 15.6% fall in net profits.

Despite these losses, managers have been vigorously trying to restructure Coca-Cola's business functions in order to reap efficiency improvements. These may not have materialised yet, but it's important to note that it takes time before restructuring attempts actually start to "kick in".

Sitting on a price-to-earnings ratio of 16 and offering a 5.4% dividend, I think Coca-Cola is priced to buy.

2. Flight Centre

Flight Centre Travel Group Ltd (ASX: FLT) is a household name when it comes to travel agencies, providing customers with holiday and travel reservations. Although it hasn't been sold-off as heavily as Coca-Cola, shares in Flight Centre have also lost some ground, falling about 17% in the past year, due to shaky full-year results.

However, given Flight Centre's strong competitive advantages, it's only a matter of time until investors realise their mistake. Flight Centre's ability to overlay its personal services with its online services gives it an advantage that is incredibly hard to replicate. In its most recent FY14 results, Flight Centre has yet again proven its resilience to short-term consumer confidence worries.

While its relatively high price-to-earnings ratio of 18 may deter some investors, I think that Flight Centre's growth potential more than outweighs its high price tag and it should be a stock to consider for the long term.

3. Village Roadshow

Entertainment and media company Village Roadshow Ltd (ASX: VRL) is the name behind popular entertainment venues such as the Wet'n'Wild theme park and film productions like Happy Feet 1 and 2.

Village has been seeking to spice up its operations given its expansion into the lucrative Asian leisure market. I think the expansion is a strategic move for Village, having the potential to boost its earnings growth sustainably and management has called it a transformational event for the company. To top this off, Village is also aiming to release six to eight film releases from its Film Production division, further aiding earnings.

Sitting on a relatively hefty price-to-earnings ratio of 20, Village Roadshow may seem overvalued, but when you factor in its long-term growth potential and its 4.1%  fully franked dividend yield, I think it's a decent buy for long-term investors.

Motley Fool contributor Aryan Norozi does not own shares in any of the companies mentioned in this article.

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