In the short-term certain shares can be unpopular for a number of reasons. It can be anything from a disappointing result, unfavourable economic conditions, or growing competition.

When this happens it can lead to investors selling off their shares. As selling pressure builds up, it can drive the share price down. This can then end up creating even more selling pressure as investors panic, leaving the share price undervalued.

But thankfully, you can’t hold down quality shares for long. In the long run it is inevitable that quality shares producing quality earnings will rise back to the top.

I believe that investors who can find quality shares at good prices will see great long-term returns. Currently there are three shares in particular on the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO), which I believe could fit the bill.

Ansell Limited (ASX: ANN)

The share price of Ansell has bounced higher recently, but still finds itself down by around 8% this year. As one of the world’s leading manufacturers of protective gloves and condoms, Ansell’s products command a steady demand due to regular replenishment.

In the first half of the current fiscal year demand for its products softened, but management advised that it expects a much stronger second-half to the year. Earnings will undoubtedly be down year-over-year, but this has long been priced in by the market.

Although the bargain price of a few weeks ago has gone now, I still believe this is a great entry point for long-term buy and hold investors.

Caltex Australia Limited (ASX: CTX)

Caltex shares have dropped over 13% in 2016, leaving shareholders of the fuel retailer nursing a loss of almost 6% in the last 12 months.

Thanks to record high gross retail margins, the company is expected to grow its earnings by 21% this year. Making it quite a surprise to see such a steep drop in the share price.

In my opinion I think the market got overly excited by its strong growth prospects and buying pressure took the share price too high. At one point the shares were changing hands at 17.5x estimated FY 2016 earnings.

This is historically very high for the company, so dropping down to the current level was probably necessary. The good news now though is that there could be plenty of upside ahead for the shares if the company’s fantastic earnings growth continues.

QBE Insurance Group Ltd (ASX: QBE)

The share price of QBE Insurance is down by nearly 11% in 2016 despite a decent rally in the last few weeks. This makes it the worst performing insurer on the ASX, and perhaps also the best value.

I have always felt that the diversity of its business sets it apart from its competitors. With no region accounting for more than a third of its total gross earned premiums, the company could be exposed to lower levels of overall risk.

The company has gone through a long restructuring of its operations recently, but looks to have come out of it with a more efficient and profitable business model. I expect we will start to see this progress reflected in its results in the next 12 months.

At just under 14x estimated FY 2016 earnings the shares are priced on the lowest multiple in the insurance sector and pay a fully franked dividend that yields 4.9%. I believe this could be a great buy today.

Still want more bargain buys? Well, these three shares could also be great buys today as well if you ask me.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.