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2 high quality ASX 200 growth shares I’d buy right now

Sharemarket falls are actually a good thing for accumulators. We get to purchase our favourite companies at discounted prices. In almost every case, the long-term outlook for earnings growth is not affected by market movements.

Here are two great ASX 200 growth shares that are now trading at more attractive prices…

Bapcor Ltd (ASX: BAP)

The Bapcor share price is down a little over 15% from its recent highs. The auto parts distributor has been growing solidly in recent years with the latest results showing revenue growth of 22% and earnings per share growth of 32%.

Each of the company’s divisions is performing well, with its Autobarn retail stores really gaining traction, with same-store sales up 4.7%. Management plan to roll out more stores and ultimately increase the store count from 128 to 200 over time. The company’s other retail stores are also pulling their weight, with same-store sales growth of 4.4% across the network.

Income investors will be pleased to know the dividend has been increased by an average of 21% per year over the last few years, and the payout ratio is a very conservative 51%. Bapcor trades on around 21 times earnings and a fully franked dividend yield of 2.2%.

Carsales.com Ltd (ASX: CAR)

The Carsales.com share price is down more than 20% from its recent highs. That’s despite the company continuing to deliver solid results. The latest result showed revenue growth of 19% and earnings per share growth of 10%.

There’s little doubt Carsales is the dominant player in Australia for online car classifieds. The company benefits from a strong network effect, much like REA Group Limited (ASX: REA) and SEEK Limited (ASX: SEK). It has further invested internationally, with Carsales now owning 100% (previously 50%) of SK Encar, the South Korean version of Carsales. It also has operations in Latin America which are small but growing.

The company has a reliable growth history with no sign of it slowing. Since 2010, the year after listing, earnings and dividends have roughly tripled. Carsales trades on around 23 times earnings and a fully franked dividend yield of 3.8%.

Foolish takeaway

It makes sense to take advantage of lower prices to scoop up shares in these quality businesses. Both continue to deliver reliable earnings and dividend growth, allowing you to tune out the market noise and sit back while these companies work hard on your behalf.

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Motley Fool contributor Dave Gow owns shares of Bapcor, carsales.com Limited, REA Group Limited, and SEEK Limited. The Motley Fool Australia owns shares of and has recommended Bapcor. The Motley Fool Australia has recommended carsales.com Limited, REA Group Limited, and SEEK 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.

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