While many investors are complaining that the market looks fully priced and it’s hard to find value, some savvy investors will know that there is always an attractive investment opportunity somewhere…

It’s just a matter of finding them!

The past week has seen the share prices of a number of well-known businesses tumble to 52-week lows. While that’s no “buy” signal in and of itself, in these four instances it could mean its worth taking a closer look.

TPG Telecom Ltd (ASX: TPM)

Last week the smaller rival to Telstra Corporation Ltd (ASX: TLS) saw its share price fall 22.8%.

As was reported here, the savage sell-off was in response to guidance for just 6% growth in underlying earnings before interest, tax, depreciation and amortisation (EBITDA) for the 2017 financial year (FY). Analysts were also alarmed at the forecast spike in capital expenditure in FY 2017.

While the stock has obviously been de-rated with market expectations lowered, TPG arguably remains an appealing growth story.

Unlike most other sectors in the domestic economy, telecommunications are experiencing a strong tailwind on the back on increased data usage. TPG remains well positioned to benefit from this trend.

OFX Group Ltd (ASX: OFX)

The provider of online foreign exchange services fell 16.7% last week and is now nursing a loss of 45% for calendar year 2016.

While OFX was previously seen as a disruptor to the banking sector’s strangle hold on foreign currency transactions, it appears that now disruptors are disrupting OFX!

The group’s recent first quarter update was positive and included a strong period thanks to the uncertainty caused by “Brexit”, however the weak growth rates recorded for FY 2016 remain a cause for concern.

OFX’s shares may not be cheap enough yet to tempt conservative investors, but they could be one for the watch list.

Godfreys Group Ltd (ASX: GFY)

It hasn’t been a pleasant experience for investors who took stock in the initial public offering (IPO) of this leading vacuum retailer in December 2014.

Since first trading on the ASX, the shares have fallen 75%.

For the year ending June 30 2016, Godfreys reported underlying earnings per share of 22.6 cents per share on the back of an uninspiring performance which saw like-for-like sales slip around 10%.

With the share price now trading at just 72.5 cents, the stock trades on a trailing price-to-earnings ratio of only 3.2 times. This could represent a bargain opportunity, however, investors should thoroughly assess why the market is pricing this stock at such a low level and be sure the market is wrong before buying shares.

iCar Asia Ltd (ASX: ICQ)

iCar Asia is attempting to position itself to do in the Asian region what Carsales.Com Ltd (ASX: CAR) has done so successfully in Australia.

With the share price slumping close to 70% this year the market is obviously questioning the success of iCar’s strategy.

While the group’s recent interim results showed that it is still early days for the group with revenues of just $3.2 million and expenses of $9.1 million, many important metrics continue to head in the right direction.

Given the potential size of the prize, iCar remains a stock that growth investors should arguably keep an eye on.

3 Rotten Shares to Sell, and 1 to Buy Today

After a double-digit rally for the ASX since 2016 lows, investors should be on high alert. You'll find a full rundown below of 3 shares we think you should avoid today plus one top pick worth buying, even if the market turns south and the RBA keeps rates at an "emergency low." Simply click here to uncover these stocks.

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Motley Fool contributor Tim McArthur 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.