These 3 ASX shares just hit 52-week lows: Are they bargain buys?

Although the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has managed to carve out a gain of 5.7% in the last 12 months, not all shares on the share market have been able to follow the index higher.

In fact, the three shares below have just hit 52-week lows. Are they bargain buys now?

The Cash Converters International Ltd (ASX: CCV) share price fell to a 52-week low of 24.5 cents during trade today. This means the shares of the franchisor of second hand goods and financial services stores have fallen 29% year-to-date. While there has been no news out of the retailer for some time, I would suggest that the weak performance of rival Thorn Group Ltd (ASX: TGA) is a sign that business is unlikely to be booming for Cash Converters.

The Greencross Limited (ASX: GXL) share price tumbled to a 52-week low of $5.64 today. Concerns over the weak retail environment and the potential impact Amazon will have on its business appear to be behind this decline. Whilst the retail side of its business is potentially open to be disrupted by the retail behemoth, its veterinary business is certainly safe. Because of this I think its decision to launch in-store clinics is a smart move and could lessen Amazon’s impact. At the current share price I think Greencross could be a great option for investors.

The Sundance Energy Australia Ltd (ASX: SEA) share price has dropped to a 52-week low of 6.9 cents this afternoon. Despite the best efforts of OPEC to reduce oil output and increase prices, I think oil prices look set to stay in or around US$50 a barrel for the foreseeable future. I believe this is likely to reduce the oil and gas producer’s profitability and weigh heavily on its shares. Like rival Santos Ltd (ASX: STO), I feel Sundance Energy is best avoided at this point.

Instead of risking your money in beaten down oil and gas shares, I would suggest you take a look at these high-flying blue-chip shares. I'm tipping each of them for big things this year.

Top 3 ASX Blue Chips To Buy In 2017

For many, blue chip stocks means stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool's in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool's Top 3 Blue Chip Stocks for 2017."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

If you're expecting to see the likes of Commonwealth Bank, Telstra and Wesfarmers shares on this list, you'll be sorely disappointed. Not only are their dividends growing at a snail's pace, their profits are under pressure too due to the increasing competitive environment.

The contrast to these "new breed" blue chips couldn't be greater... especially the very real prospect of significant share price gains, something that's looking less likely from the usual blue chip suspects.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand - and how quickly the share prices of these companies moves - we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Greencross Limited. 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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