I believe the mid cap part of the Australian share market has a good number of high-quality shares which could be great investments over the long term.
Three that jump out as quality buy and hold options at present are listed below. Here’s why I think they are worth a closer look:
Bingo Industries Ltd (ASX: BIN)
Waste management may not be the most exciting industry to invest in, but don’t let that put you off this quality growth share. Bingo Industries currently operates predominantly in New South Wales but has plans to expand nationwide over the next decade. I believe this expansion, population growth, and the industry’s high barriers of entry have positioned the waste management specialist to deliver strong growth over the next few years.
Collins Foods Ltd (ASX: CKF)
Collins Foods is Australia’s largest KFC franchisor with a total of 256 stores across Australia and Europe. While the local market may be maturing, the European market is still in its infancy and has significant long-term growth potential. It is for this reason that I think it could be a good long-term investment, especially given that its expansion into Europe has started positively. Another bonus for investors is that Collins Foods pays a dividend which could grow meaningfully along with earnings in the future
Macquarie Telecom Group Ltd (ASX: MAQ)
Although this data centre, cloud, cyber security, and telecom company’s shares are up 62% over the last 12 months, I think it could still be a great buy and hold investment option. Earlier this month the company upgraded its full-year profit guidance. Although it didn’t advise where the outperformance came from, I suspect that its data centre business has been doing a lot of the heavy lifting. Which is why it is great to see management commit to expanding its data centre capacity significantly over the coming years. Plans are in place to expand capacity at the Macquarie Intellicentre 3 from 10MW to 43MW in order to meet the growing needs of global hyperscalers and cloud, enterprise, and Government customers. I think this bodes well for its long-term earnings growth.
Finally, here are four more shares that could be quality buy and hold candidates.
Renowned investor Scott Phillips just released a brand-new report detailing his 4 favourite stocks to buy right now.
And I don’t know about you, but I always pay attention when some of the best investors in the world give me a stock tip.
This is your chance to get in at the very beginning of what could prove to be very special investments.
Motley Fool contributor James Mickleboro owns shares of Collins Foods Limited. The Motley Fool Australia has recommended Collins Foods 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 Scott Phillips.