As we marked a year since the introduction of COVID-19 lockdowns in Australia and with Easter upon us, we asked our Foolish contributors to compile a list of some of the ASX shares experts are saying to Buy in April.
Here is what the team have come up with…
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Tristan Harrison: Brickworks Limited (ASX: BKW)
Brickworks has a number of positives going for it right now. The Australian construction market is going strong, whilst the US construction industry is finally seeing a recovery.
Its property trust joint venture is making good progress at building new large warehouses. Plus, there's still plenty of land left for development.
Brickworks revealed in its FY21 half-year result that its inferred asset backing is over $27 per share, meaning that the current Brickworks share price is trading at a substantial discount to this. Within that value, some land is held at book value, but with a "significantly higher" market value.
Motley Fool contributor Tristan Harrison does not own shares of Brickworks Limited.
Bernd Struben: Rural Funds Group (ASX: RFF)
ASX investors looking for potential share price gains along with a historically reliable income stream may want to consider Rural Funds Group.
Rural Funds leases agricultural equipment and property including cattle ranches, vineyards and cropping acreage. The company is in a good position with its leasing terms, with an average weighted lease expiry (WALE) of 11.1 years.
Rural Funds has a market cap of $801 million and has a strong history of regular and growing dividends. It pays a current annual dividend yield of just over 4.6%, unfranked.
At the time of writing, the Rural Funds share price is up by around 23% over the past 12 months.
Motley Fool contributor Bernd Struben does not own shares of Rural Funds Group.
Sebastian Bowen: Coles Group Ltd (ASX: COL)
The ASX's second-largest grocery giant, Coles, has had a rough start to the year, evidenced by its year-to-date fall of close to 15%.
However, that might make Coles a cheap option to consider, especially if you value dividend income.
On recent pricing, the Coles share price is offering a yield that's close to 4%, with a price-to-earnings (P/E) ratio of under 21.
The dividend also comes with full franking credits of course, which could come in handy in this era of near-zero interest rates. Both of those metrics outshine Coles' arch-rival Woolworths Group Ltd (ASX: WOW).
Motley Fool contributor Sebastian Bowen does not own shares of Coles Group Ltd.
Mitchell Lawler: Elders Ltd (ASX: ELD)
Heavy rainfall over the past couple of weeks has been devastating for some – but for farmers, the ground soaking was well needed.
The rainfall strengthens what has already been a blockbuster 12 months for our primary producers. Cattle prices have surged to astronomical levels as herds are restocked. Crop yields are also at record highs. A telling sign of how insulated the agriculture sector is from COVID-19 impacts.
If conditions continue to be favourable as they have been for farmers, Elders will continue to benefit. Elders' cropping retail products, livestock agency services, and financial services are all closely tied to farming conditions.
Analysts at Goldman Sachs also see a favourable future for the company. The firm holds Elders on its conviction list with a buy rating and a 12-month price target of $15 a share – representing an upside of 20.5%.
Motley Fool contributor Mitchell Lawler owns shares of Elders Limited.
Brendon Lau: IGO Ltd (ASX: IGO)
There's a re-rating opportunity for the IGO share price, according to JPMorgan.
The miner is close to selling its stake in its Tropicana gold project and buying a $1.4 billion stake in Tianqi. The transactions will transform IGO into a pure raw material producer for high nickel batteries at a time when demand for the batteries is set to soar.
JPMorgan is recommending the stock as "overweight" with a price target of $7.80 a share.
Motley Fool contributor Brendon Lau does not own shares of IGO Ltd.
James Mickleboro: Adore Beauty Group Ltd (ASX: ABY)
Adore Beauty is Australia's leading pureplay online beauty retailer with almost 800,000 active customers. Thanks to the accelerating shift to online shopping, Adore Beauty has been in fine form in FY 2021. During the first half, the company reported an 85% increase in half-year revenue to $96.2 million and a 188% jump in operating earnings to $5.2 million.
The good news is that this is still only a very small slice of its ~$11 billion addressable market. This gives Adore Beauty a long runway for growth over the next decade. Especially given the relatively low penetration of online beauty sales in Australia compared to other Western markets. An estimated 7.3% of beauty sales are made online here, whereas in the US it is over double this at 15.4%. UBS is a fan of the company and recently put a buy rating and $6.20 price target on its shares.
Motley Fool contributor James Mickleboro does not own shares of Adore Beauty.
