The Motley Fool

2 ASX shares looking cheap this week

Although last week was a bit of a non-starter on the ASX, you can consider this a good thing if you love picking up shares for a bargain price in true value investing style. Rising share markets and stock prices are fantastic if you already own shares, but not so good if you’re looking to aggressively grow your portfolio.

So with that in mind, here are 2 ASX shares that I think are looking cheap this week.

Bingo Industries Ltd (ASX: BIN)

Bingo has had a rough few months, with the waste service provider’s shares going from $2.71 in July to last week’s finishing price of $2.20 (down nearly 19% in two months). Just this month, Bingo confirmed that its acquisition of Dial A Dump Industries has been completed, which the company hopes will be a significant long-term driver of growth.

The waste management sector is in a considerable tailwind in my opinion, especially since China’s ‘National Sword’ policy of not accepting foreign counties’ waste (including Australia) is now in full operation. Our recyclables will have to be processed in-house from now on, and I think Bingo, together with Cleanaway Waste Management Ltd (ASX: CWY), is going to benefit from this change immensely. Waste isn’t going away anytime soon, so some Bingo shares might just be a great bargain to pick up this week.

Vitalharvest Freehold Trust (ASX: VTH)

Vitalharvest is an agricultural real estate investment trust (REIT) that owns properties producing berries, citrus fruits and avocados, among other foods. The company has suffered collateral damage due to the woes of tenant Costa Group Holdings Ltd (ASX: CGC), but I think its fundamentals are strong, making Vitalharvest’s current yield of 6.42% very enticing. Most of Vitalharvest’s farms are leased until 2026, giving investors a lot of income certainty as well. Therefore, at last week’s closing price of $0.88 a share, I think Vitalharvest shares could also be a bargain buy right now.

Foolish takeaway

Many a time, picking up a real bargain involves going against a lot of other investors who might think you’re crazy. But following the crowd rarely makes you money in the long run, so be brave when others are fearful, and you might just be rewarded!

For some more cheap, high-quality shares to buy this week, check out the five below!

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Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO. 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.

NEW. Five Cheap and Good Stocks to Buy in 2019…

Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

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Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

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