3 ASX shares at 52-week lows: Is it time to buy?

The Mayne Pharma Group Ltd (ASX:MYX) share price is one of three at a 52-week low. Is it time to invest?

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

On Thursday the shares of both XERO FPO NZX (ASX: XRO) and Bubs Australia Ltd (ASX: BUB) climbed to 52-week highs.

Whilst this is great news for the shareholders of these companies, spare a thought for the shareholders of the three companies listed below which tumbled to 52-week lows yesterday.

Does their latest declines mean they've fallen into the buy zone now?

The Australian Pharmaceutical Industries Ltd (ASX: API) share price fell sharply on Thursday, hitting a 52-week low of $1.51 in the process. Due to weak trading conditions the company behind the Priceline pharmacy brand revealed that it expects profit growth of 5% this year, compared to previous guidance of a minimum of 10%. Whilst its shares do look to be great value now, I would suggest investors hold off an investment until it has released its results and FY 2018 guidance.

The Cabcharge Australia Limited (ASX: CAB) share price fell to a 52-week low of $2.08 yesterday. Unfortunately I can't say I'm surprised to see the taxi services provider's shares at these low levels. Later this month Cabcharge is expected to post a drop in revenue for the third successive year. Due to the rise of services such as Uber, I wouldn't be at all surprised to see another decline in revenue in FY 2018. Because of this I think investors should avoid Cabcharge.

The Mayne Pharma Group Ltd (ASX: MYX) share price briefly touched on a 52-week low of 88.7 cents on Thursday. Shareholders of the pharmaceutical company have been heading to the exits this year due to concerns over price-fixing allegations and the future prices of generic drugs in the United States. With the Trump administration expected to push to have them lowered significantly, investors appear to be concerned that Mayne Pharma overpaid for its massive acquisition last year.

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

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »