If you're a fan of growth shares like I am then you're in luck because the Australian share market is home to a large number of companies growing their earnings at a rapid rate.
Three growth shares that I think are trading at attractive prices right now are listed below. Here's why I would buy them:
Aristocrat Leisure Limited (ASX: ALL)
I think that this gaming technology company's shares are trading at a level that provides investors with a compelling risk/reward. Despite Aristocrat Leisure delivering a 34.2% lift in normalised NPATA to $729.6 million in FY 2018, its shares are changing hands at just 20x estimated forward earnings today. I think this is cheap given its long-term growth potential thanks to its exposure to the fast-growing social and mobile gaming market.
Collins Foods Ltd (ASX: CKF)
Another top growth share to consider is Collins Foods. The quick service restaurant operator has an expanding network of KFC restaurants across Australia, Europe, and New Zealand and recently rolled out the Taco Bell brand across several Australian states. I believe the company has a massive opportunity in Europe that could underpin strong earnings growth for many years to come. I'm not alone in this view, analysts at UBS retained their buy rating and lifted the price target on its shares to $8.00 this morning on the back of its growth strategy.
Webjet Limited (ASX: WEB)
A final growth share to consider is this online travel agent. It has been growing at an incredible rate over the last few years and looks set to continue doing so in FY 2019. Earlier this month the company reaffirmed its full year EBITDA growth guidance of $120 million. This will be a year on year increase of 37%. And thanks to the popularity of its B2B and B2C brands and the ongoing shift to online travel booking, I expect similarly strong growth in FY 2020.
