Although value is the more important metric when it comes to investing, investors often pay close attention to a stock's price as well. Sometimes, stocks can tend to trade under the market's radar because they carry a low price, even though some of them can represent excellent buys.
That certainly seems to be the case with these three ASX stocks that are all trading below $1 per unit:
Lindsay Australia Limited (ASX: LAU) boasts strong growth potential and offers a generous dividend yield. The transport and logistics company is expanding in far-north Queensland where it stands to benefit from the skyrocketing Asian demand for Australian seafood, which obviously requires refrigerated transportation. Although it remains a speculative bet at 48.5 cents per share, investors can take comfort in the fact that Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) and Orora Ltd (ASX: ORA) are two of its major shareholders. As at 31 July 2014, the pair held more than 29% of the company.
Yellow Brick Road Holdings Ltd (ASX: YBR) is a wealth management group that is still very early in its growth days (it isn't even profitable yet). The low interest rate environment has helped the company recognise strong growth in its home loan volumes, and that trend should continue with interest rates set to remain low for some time yet. As it stands, the stock is trading at 57.5 cents and could be a great pickup for investors with a long-term focus.
Nearmap Ltd (ASX: NEA) provides ultra-high resolution aerial photographs that are designed to save both time and significant costs for customers spanning various industries. While its unique product has proven incredibly popular in the Australian market (with some companies extremely reliant on its offering), it is in the process of expanding into the much larger US market which could see earnings grow strongly over the coming years.
The stock is now trading at 54.5 cents, down from an all-time high of 83.5 cents, presenting long-term investors with an exceptional opportunity to buy.
