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4 stocks ready and waiting to be bought

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According to data compiled by stockbroker Bell Potter, the following four stocks are all rated as “strong buy” by at least one broker. While that certainly doesn’t guarantee a positive share price performance, it could make them worthy of a closer look…

Godreys Group Ltd (ASX: GFY) is a vacuum cleaner retail business familiar to many investors given its prominence in retail precincts. The company only listed on the ASX in December last year but so far it’s been relatively smooth sailing for investors with the share price trending higher.

The prospectus forecasts earnings per share for the current 2015 financial year (FY) of approximately 30 cents per share (cps). Even after the rally in Godfreys’ share price from its float price of $2.75 to its current $3.45, the stock still trades on a forecast price-to-earnings ratio of just 11.5x, which doesn’t appear overly demanding.

Mantra Group Ltd (ASX: MTR) is another recent initial public offering that has enjoyed investor support since coming to market. As I previously highlighted here, the hotel operator reported strong interim results and reconfirmed forecasts for the full year.

With the share price having pulled back a little from recent highs, this could provide investors who missed the float with an opportunity to acquire shares.

Nearmap Ltd (ASX: NEA) has an innovative technology for capturing high resolution images and a product offering which has expanded beyond Australia and into the USA.

The market doesn’t appear to have been overly enthusiastic about the company’s recent interim results given the share price trended down through February and into March, however, the stock has recently gained some buying support which could suggest the market remains confident that the long-term growth story is still intact.

Webjet Limited (ASX: WEB) is an interesting stock considering the recent takeover premium paid for its previously closest listed peer Wotif.com.

The online travel agent reported an adjusted profit of $9.9 million at the recent half year which represented growth of 22% on the prior corresponding period. Annualising that result suggests earnings per share of approximately 25 cps for the full year, which implies that the stock is trading on a forward PE multiple of 16.4x.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of June 30th

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.

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