The best TSX stocks to invest $ 5,000 in right now


Despite the massive rally in the rally, I see major TSX stocks trading at discounted prices, giving investors a great opportunity to put their money into some high quality Canadian companies. So if you have $ 5,000, put your money to work and invest in these top TSX stocks now.

Speed ​​of light

Leading provider of cloud-based commerce platforms Lightspeed POS (TSX: LSPD) (NYSE: LSPD) is an interesting long-term bet. The company is experiencing stellar demand for its point-of-sale (POS) systems amid the continued transition from model sales to omnichannel platforms. Thanks to favorable industry trends and strong demand, Lightspeed has managed to grow rapidly. It added new customers, expanded its range of products and solutions, and acquired multiple point-of-sale platforms to expand its global reach.

Despite the economic reopening, I believe the demand for its omnichannel payment solutions will likely remain high. In addition, Lightspeed remains well positioned to capitalize on favorable industry trends and deliver exceptional financial and operational performance.

I think the focus on expanding into existing and new markets, accelerating payment and financial solutions business, and introducing new modules are likely to boost its revenue and average revenue per user. In addition, its strategic acquisitions should stimulate its customer base, expand its presence in high-growth markets and accelerate its growth rate. Notably, Lightspeed stock has fallen over 22% in three months, and I see this correction as a buying opportunity.

clumsy

Subprime lender shares clumsy (TSX: GSY) is a must in your portfolio to outperform larger markets by a significant margin. The company has consistently seen stellar earnings growth since 2001, which has driven its share up and supported higher dividend payouts. Notably, its adjusted net income has grown at a CAGR (compound annual growth rate) of 31% since 2001. Meanwhile, its net income has jumped 67% in the last reported quarter.

I believe that goeasy’s profitability could continue to grow at a breakneck pace in the years to come, reflecting strong growth in its loan portfolio, strong payment volumes and expense management. Goeasy’s focus on expanding its product line, new distribution channels, strategic acquisitions, increased penetration of secured loans, larger note size and the large addressable loan market is likely to support its growth rate and boost its profits.

The company has paid dividends over the past 17 years and increased it by a CAGR of 34% over the past seven years. The company pays a quarterly dividend of $ 0.66 per share and offers a decent return of 1.8%.

Cargojet

Cargojet (TSX: CJT) produced stellar returns in 2020 as the COVID-19 pandemic accelerated demand for air freight services. The company has seen a significant increase in e-commerce demand, which has boosted its revenue and margins. Despite its strong financial and operational performance, Cargojet has fallen by more than 13% since the start of the year amid fears of an expected normalization of demand.

While the demand for domestic and international air cargo services may normalize, I expect Cargojet to continue to benefit from its long-term contracts and strong e-commerce demand. The company remains well positioned to benefit from its strong national network, speed to market and next day delivery capabilities to approximately 90% of the Canadian population.

Cargojet’s leadership position, accelerating e-commerce demand, price increases, network optimization, cost management and international growth opportunities are expected to drive its revenues and margins at a stellar rate and increase its stock.

Besides Cargojet, get your FREE LIST OF UNDERVALUED AND HIGH GROWTH STOCKS here:

Freshly published! 5 actions under $ 49 (FREE REPORT)

Motley Fool CanadaThe Leading Market Team has just released a brand new FREE report revealing 5 “Very Cheap” Stocks You Can Buy Today For Under $ 49 A Share.
Our team believes these 5 stocks are critically undervalued, but, more importantly, could potentially make quick-acting Canadian investors a fortune.
do not miss anything! Just click on the link below to grab your free copy and check out all 5 of these stocks now.

Request your FREE 5 Stock Report Now!


This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a premium Motley Fool service or advisor. We are Motley! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer, so we’re posting sometimes articles that may not meet recommendations, rankings or other content. .

Silly contributor Sneha Nahata has no position in any of the listed securities. The Motley Fool owns shares and recommends CARGOJET INC. The Motley Fool owns shares of Lightspeed POS Inc.


About Julie Gray

Check Also

Pentagon plans to use Elon Musk’s rockets to deploy troops from space

The US Department of Defense (DoD) has had discussions with Elon Musk’s SpaceX to potentially …

Leave a Reply

Your email address will not be published.