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

The local share market may be on a solid run this month, but the same cannot be said for the shares listed below.

These three ASX shares have just fallen to 52-week lows. Is this the time to invest?

The Caltex Australia Limited (ASX: CTX) share price touched on a 52-week low of $26.61 on Wednesday. Investors appear to be concerned that the fuel retailer’s convenience stores could be negatively impacted by high fuel prices. While I think this is likely to be the case in the short term, I remain confident that management’s plans for its convenience segment over the medium term has the potential to underpin its earnings growth. This could make it worth considering, especially with oil prices pulling back recently. I expect this to be reflected in lower fuel prices in the coming weeks.

The Challenger Ltd (ASX: CGF) share price tumbled to a 52-week low of $9.87 yesterday. While this annuities company’s shares have been underperforming all year, the most recent decline appears to relate to news that the introduction of comprehensive income products for retirement (CIPR) has been pushed back to 2022. The introduction of this requirement was expected to support its medium term growth, so the delay has been seen as a blow to its prospects. While its shares do look cheap now, I think Challenger could struggle for growth over the coming years. This could potential make it a value trap.

The Crown Resorts Ltd (ASX: CWN) share price dropped to a 52-week low of $11.55 on Wednesday. A recent trading update out of the casino and resorts operator has weighed on Crown Resorts’ shares this month. That update revealed that year-to-date revenue from Crown’s main floor gaming was down 0.6% on the prior corresponding period. This was due to a flat performance at its Melbourne casinos and a further decline in Perth. Although I suspect its shares may not yet have bottomed, I still think they could be worth considering with a long-term view.

As well as Crown, I think these tech shares could be worth considering as a long-term investment.

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 Challenger Limited and Crown Resorts 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.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…


The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!