- Due to the volatility, even the top-performing stocks are experiencing a downtrend.
- The North American stock markets appear to be witnessing a bearish sentiment.
- Parkland's business operations include producing and distributing refined fuels and related petroleum products.
The equities markets have recorded increased volatility worldwide, and the North American stock markets appear to be witnessing a bearish sentiment.
Due to the volatility, even the top-performing stocks are experiencing a downtrend. Many stocks are available at discounted prices, and stock market enthusiasts could be exploring a chance to get hold of such stocks.
We have shortlisted five stocks listed on the Toronto Stock Exchange which seem to be trading at a fair price due to increased volatility. Let's look at them:
Shopify Inc. (TSX:SHOP)
The Canadian e-commerce giant has witnessed a downtrend for the past few weeks. The SHOP stock used to be among the most expensive stocks listed on the TSX. However, it continues to decline.
Compared to its 52-week high of C$ 2,228.73 per share, the SHOP stock closed at C$ 466.3 apiece after declining seven per cent during the trading session on Friday, May 20.
The SHOP stock seems to be at a fair price due to its financial performance. In Q1 2022, the total revenue jumped 22 per cent year-over-year (YoY) to US$ 1.2 billion.
Meanwhile, the gross merchandise volume was US$ 43.2 billion in Q1 2022, representing a two-year compound annual growth rate (CAGR) of 57 per cent.
Jamieson Wellness Inc. (TSX:JWEL)
Jamieson Wellness makes and sells natural health products in North American markets. The Toronto-based company also markets and sells minerals, vitamins, and supplements.
The JWEL stock's 52-week high was US$ 41.74 per share, and it ended the trading session on Friday at C$ 33.75 apiece. The last closing price was closer to the 52-week low of C$ 32.02 per share.
Jamieson Wellness could be a stock for the long-term. In Q1 2022, the company's revenue increased 5.5% YoY to C$ 103.7 million, and net earnings recorded a growth of 58.8% YoY to C$ 9.7 million.
Bank of Montreal (TSX:BMO)
In the past few weeks, the prices of bank stocks have witnessed a downtrend, and the BMO stock could be worth exploring. On May 20, Bank of Montreal stock closed the day at C$ 130.92 apiece.
The 52-week high of the BMO stock is C$ 154.47 apiece compared to that price, and it seems to be available for a fair price.
Notably, in the first quarter of this year, Bank of Montreal's net income was C$ 2,933 million, reflecting an increase of 45 per cent YoY. Meanwhile, the reported earnings per share increased by 46% YoY to C$ 4.43.
Canada Goose Holdings Inc. (TSX:GOOS)
The cyclical consumer company is well-known across Canada and manufactures premium outwear for men, women, and children. Canada Goose has a presence in North American markets and sells products in Asia, Europe, and the rest of the world.
The GOOS stock appears to be at a discounted price as it closed at C$ 25.9 apiece compared to its 52-week high of C$ 67.33 per share. Canada Goose's return on equity is 19.03 per cent, and 6.81 per cent is its return on assets.
In Q4 2022, the company's revenue was up by 6.8% YoY to C$ 223.1 million. Meanwhile, Canada Goose expects its total revenue to be between C$ 1.3 billion to C$ 1.4 billion in fiscal 2023.
Parkland Corporation (TSX:PKI)
Parkland's business operations include producing and distributing refined fuels and related petroleum products. The Calgary-based company runs its business through various subsidiaries.
The company's market capitalisation is C$ 5.6 billion, paid a monthly dividend of C$ 0.108 per unit, and registered a dividend yield of 3.4 per cent.
On May 9, Parkland Corporation announced expanding its activities and building British Columbia's largest renewable diesel complex. In Q1 2022, the adjusted EBITDA climbed 23% YoY to C$ 387 million.
Please note, the above content constitutes a very preliminary observation or view based on digital trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.