While the shares of the likes of Afterpay Touch Group Ltd (ASX: APT) and WiseTech Global Ltd (ASX: WTC) may trade on sky high earnings multiples, not all shares on the All Ordinaries index do.
Three quality shares that I think trade at very attractive levels right now are listed below. Here's why I think they could be in the bargain bin:
Accent Group Ltd (ASX: AX1)
Accent Group is a leading footwear group behind retail brands such as The Athlete's Foot, HYPE DC, and Platypus. Its shares are currently changing hands at approximately 13.5x earnings. I think this makes its shares great value given its strong first half performance. Late last year management advised that trading had been stronger than expected, leading to it providing guidance for first half EBITDA growth of between 15% to 20%. Another bonus with Accent's shares is that they provide a trailing fully franked 5.2% dividend.
Aristocrat Leisure Limited (ASX: ALL)
Aristocrat Leisure is one of the world's leading gaming technology companies. A broker note out of UBS last month revealed that its analysts expect the company to achieve earnings per share of $1.40 in FY 2019. This will be an increase of approximately 23% on the $1.14 per share achieved in FY 2018. Despite this, Aristocrat Leisure's shares are trading at just 18x estimated forward earnings. I think this is very cheap for a company with such solid long-term growth prospects due its strong core business and exposure to the fast-growing social and mobile gaming markets.
Super Retail Group Ltd (ASX: SUL)
Super Retail is the retail group behind brands such as Super Cheap Auto, Macpac, and Rebel. At present its shares are changing hands at a lowly 10x earnings. I think this is cheap and means that its shares offer investors a compelling risk/reward currently. Especially as they provide a trailing fully franked 6.5% dividend.
