Are these the best value ASX growth shares?

I think there are a large number of quality shares for growth investors to choose from on the Australian market right now.

While a lot of these trade on premium valuations, some are trading at more reasonable levels following recent pullbacks.

Are these the best value ASX growth shares on the market right now?

Aristocrat Leisure Limited (ASX: ALL)

This leading gaming technology company posted a 34.3% lift in full year NPATA to $729.6 million last month. Although this was slightly lower than the market’s expectations, I think the selloff that ensued has been severely overdone. Especially now its shares are changing hands at just 19x NPATA. At this level I think its shares offer a compelling risk/reward considering its positive long-term growth prospects thanks to its exposure to the rapidly growing digital and social gaming market.

Bellamy’s Australia Ltd (ASX: BAL)

After a sharp decline over the last few months, this organic infant formula and baby food company’s shares are currently trading at 20x earnings. I think this is a great price to pay for a company which expects to grow its sales significantly over the next couple of years. Management believes it has a clear pathway to achieving sales of at least $500 million by the end of FY 2021, this will be an increase of 52% on FY 2018’a result.

Helloworld Travel Ltd (ASX: HLO)

This integrated travel company’s shares are currently changing hands at 21x earnings. I think this makes them great value considering the company’s strong start to FY 2019 and positive earnings guidance for the full year. Management expects to build on FY 2018’s strong result with earnings growth in the range of 16.5% and 23% this year. And with the inbound and outbound tourism boom showing no signs of slowing, I believe this solid growth could continue for the next few years.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. 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.

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