The Australian share market certainly does have a lot of quality options when it comes to growth shares.
But with so many to choose from it can be hard to decide which ones to buy.
To narrow things down, I thought I would pick out three which I think are in the buy zone today. They are as follows:
Bingo Industries Ltd (ASX: BIN)
I think that this waste management company is a great option for growth investors. In FY 2018 the company delivered a 44.8% increase in pro forma profit to $48.2 million thanks to its expanding footprint and exposure to strong end markets which have been underpinned by economic tailwinds, favourable demographics and robust construction activity. The good news is that this solid growth is expected to continue in FY 2019, with management forecasting EBITDA growth in the range of 15% to 20%. Importantly, this forecast does not include the proposed $577.5 million acquisition of Dial A Dump Industries.
Kogan.com Ltd (ASX: KGN)
This ecommerce company's shares have fallen significantly from their 52-week high following a softer than expected full year result last month. Also weighing on its shares has been the lack of guidance or trading update with its result and heavy insider selling. While I do have concerns with the lack of a trading update, I think its shares have pulled back so much it has de-risked things significantly. In light of this, I feel that now is a great time to consider picking up a parcel of Kogan.com's shares.
Webjet Limited (ASX: WEB)
Webjet is the online travel company behind the fast-growing Webjet, Online Republic, JacTravel, Sunhotels, and Lots of Hotels businesses. With Australia experiencing both an inbound and outbound tourism boom, I believe it is perfectly positioned to continue its strong earnings growth for many years to come. Especially given how its numerous brands have been outpacing industry booking growth significantly over the last few years and are expected to continue doing so over the medium. So with its shares pulling back meaningfully today, I believe buying in on this share price weakness could be worth considering.
