Right now I'm not seeing a great amount of value at the large end of the market, whereas in the mid cap space I think there are a lot of great options for investors.
Three mid cap shares that I think are worth considering today are listed below. Here's why I like them:
BWX Ltd (ASX: BWX)
Although this personal care products company's half-year results release last month was a little underwhelming, I think the sell-off that ensued was severely overdone. The good news for non-shareholders is that this has arguably brought the shares of the company behind the Sukin brand down to a very attractive level given its long-term growth potential. I think BWX would be a great investment for investors willing to make a patient buy and hold investment.
Codan Limited (ASX: CDA)
Following the release of a solid first-half result, Codan's shares are still changing hands at just 11x trailing earnings. I think this means the radio communications, metal detection, and mining technology company could be trading at a bargain price right now. Especially after the company's Minetec business signed a global licensing agreement with U.S. giant Caterpillar. While this isn't expected to be material to earnings in FY 2018, I think in the long-term it has the potential to be a key driver of growth. As could the release of a new range of products, including its next generation dual-sensing countermine detector.
Greencross Limited (ASX: GXL)
This integrated pet care company's shares have tumbled around 16% lower year-to-date despite the release of a solid half-year result. Considering Greencross' shares had rallied strongly leading into earnings season, I suspect some investors may have been expecting an even stronger result. So with its shares notably lower and its in-store veterinary clinic roll out showing a lot of promise, I think that now could be an opportune time to snap up shares.
