These mid cap growth stars are on my shopping list

I think the recent market selloff has created a large number of buying opportunities in the mid cap space.

Three mid cap shares that I would consider buying this week after recent declines are listed below. Here’s why I like them:

Bapcor Ltd (ASX: BAP)

Over the last few weeks the Bapcor share price has been dragged around 10% lower from its 52-week high. I think this could be an opportune time to pick up the shares of one of Australia’s largest suppliers of car parts and accessories. It was a strong performer in FY 2018 and posted pro forma net profit after tax growth of 31.6% to $86.5 million thanks to positive performances from all its business divisions. The good news is that I feel confident that this strong form can continue in FY 2019 thanks to its expansion plans and organic growth.

Helloworld Travel Ltd (ASX: HLO)

This integrated travel company’s shares have pulled back by 9.5% from their 52-week high. I think this is a great opportunity to pick up shares in a company that could grow strongly over the coming years. In FY 2018 Helloworld posted an impressive 48.1% increase in profit after tax to $32 million. Management expects the strong form to continue in FY 2019 and has provided earnings growth guidance in the range of 16.5% and 23%.

Macquarie Telecom Group Ltd (ASX: MAQ)

Recent share price weakness due to market volatility means that the Macquarie Telecom share price is down 7% from its 52-week high. In light of this, I think now could be a great time to pick up shares with a long term view. Although it has the word telecom in its name, don’t be fooled into thinking this is a slow-growing telco company. Thanks to its fast-growing data centre business and plans to expand its capacity significantly in the coming years, I believe Macquarie Telecom is well-positioned to deliver strong earnings growth for many years to come.

Looking for more mid cap growth ideas? Then don't miss out on these hot stocks.

The Disruptors: 3 Revolutionary Aussie Companies to Back for 2018

We’re living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That’s why at The Motley Fool we’ve been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Atlassian.

We’ve found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Bapcor. The Motley Fool Australia owns shares of Helloworld 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.