Since the turn of the year the All Ordinaries index has been in fine form and has climbed an impressive 11.5%.
Unfortunately, not all shares on the index have been able to follow it higher.
The three ASX shares listed below have all been hammered this year, is this a buying opportunity?
The Blackmores Limited (ASX: BKL) share price has lost 26% of its value since the start of the year. The health supplements company's shares have come under significant selling pressure due to a sudden deterioration in its performance in the third quarter. Due partly to softening demand in China, Blackmores posted a 43.3% decline in third quarter profit after tax to $9.9 million. Whilst Blackmores' shares look better value now, I would suggest investors wait for its performance to improve before considering an investment.
The Costa Group Holdings Ltd (ASX: CGC) share price has tumbled 28% lower in 2019. The horticulture company's shares have been sold off this year after trading conditions weakened considerably at the start of the year. The good news is that things have since improved and the company expects to achieve its calendar year 2019 guidance of earnings growth of at least 30%. I think this decline has left its shares trading at a fair price for a long-term investment.
The Helloworld Travel Ltd (ASX: HLO) share price has fallen 30% since the start of the year. Investors were hitting the sell button in a panic earlier this year after the integrated travel company was caught up in a political scandal. I believe this selling has created a buying opportunity, especially after management recently reaffirmed its full year earnings guidance. After a strong third quarter, Helloworld is expected to achieve its full year EBITDA guidance of $76 million to $80 million, up from $63 million in FY 2018.
