The best time to buy shares is when they're low, right?
It's hard to pick a time to buy growth stocks because over the long-term they tend to look expensive. Shares like Challenger Ltd (ASX: CGF) may seldom trade cheaper than a year ago's price.
Therefore, I think it is worth considering shares that have good long-term futures, but are currently at good value. Here are three shares that could fit the bill:
1300 Smiles Limited (ASX: ONT)
1300 Smiles is one of Australia's largest dental businesses with a market capitalisation of $165 million.
The share price has fallen by 12% since December 2016 which I think presents a good price to enter an industry that you likely have no exposure to currently.
1300 Smiles is slowly acquiring more dental practices and adding them to its network. It has a unique strategy of a $1 a day plan to provide more affordable dental care to patients.
I think management are doing well with the business and will likely beat the market over the medium term. 1300 Smiles is currently trading at 22x FY16's earnings, with a grossed-up dividend yield of 4.66%.
Capilano Honey Ltd (ASX: CZZ)
Capilano is the Australian honey producer with a market capitalisation of $136 million.
The share price has fallen by 36% since April 2016 but has appeared to stop falling now, after briefly going under $14.
I think this could be a great price to buy Capilano considering it revealed an 87% growth in its export sales in its result to 31 December 2016.
Capilano is trading at 13x FY16's estimated earnings with a grossed-up dividend yield of 3.97%.
MFF Capital Investments Ltd (ASX: MFF)
MFF Capital is a listed investment company (LIC) with a market capitalisation of $929 million.
It's managed by Magellan Financial Group Ltd (ASX: MFG) and it has been the best performing LIC that focuses on overseas shares over the last five years. It has produced an average annual return of 24.1%.
However, that hasn't stopped the shares from being 8.5% lower today than its price in December 2015. Good managers tend to keep outperforming in the long-term as long as they stick with their winning methods, which is why I think MFF Capital shares could be worth considering.
MFF Capital is currently trading with a grossed-up dividend yield of 1.48%.
Foolish takeaway
All three are trading at attractive value to me, but I'd say 1300 Smiles is trading at the best long-term value. However, MFF Capital is most likely to produce market-beating returns over the long-term due to its high-performing managers and ability to invest in any industry that it wants to.
