7 Best Cheap Stocks Of March 2024 (2024)

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Axcelis Technologies produces and services equipment used in the production of semiconductors. It currently has the highest yearly forecasted EPS growth on this list.

It has a B financial health rating and has managed to increase sales by 19.1% per year, on average, over the last five years. EPS is expected to grow by 10.3% next year, according to analysts’ estimates.

The stock has fallen significantly from its 52-week high. That has reduced ACL’s P/E ratio to more attractive levels. The current P/E ratio of 16.3 is near the lower end of readings in the last few years.

ACLS is also buying back shares, with a buyback yield of 1.2%.

DIGI provides a wide range of wireless communication related services and products.

It has a solid B financial rating from Morningstar. And it is expected to grow earnings by 11.0% next year. Sales have increased an average of 14.4% per year over the last half decade.

This stock rarely trades below a P/E of 30. That makes the stock attractively priced at its current forward P/E ratio below 11.

A significant fall from the 52-week high has helped produce those cheaper valuation levels compared to recent norms.

Addus provides in-home care services to those who are chronically ill, disabled or elderly. Morningstar gives it a B financial health grade.

Sales have been increasing by an average of 16% per year over the last five years, and analysts expect EPS growth of 8.9% next year.

The current P/E of 24.6 is a low reading for this stock. P/E values have ranged between 22.3 and 69.4 over the last five years. The current reading is right near the low end of that range.

The stock price of ADUS has been flat to lower since 2021 and is trading significantly below the 52-week high. This may present a good buying opportunity for the growing company.

North American Construction Group is a contractor with a massive fleet of heavy construction equipment. It also refurbishes and maintains construction equipment.

NOA has a B financial rating from Morningstar, and it is expected to grow earnings by 51.6% next year. Sales have increased on average of 19% per year over the last five years.

Its price-earnings ratio and forward P/E ratio already appear low. But this stock typically trades at even lower P/E levels. Over the last five years, its P/E ratio values have ranged between 4.6 and 33.9, spending most of the time below 20. Current values represent a good to fair value for this growing company.

The stock is well below its 52-week high and such pullbacks have generally provided good buying opportunities as the stock is in a decade long uptrend. That said, the stock can experience large price swings both to the upside and downside, due to the cyclical nature of the construction industry.

The company pays a 1.5% dividend and has a buyback yield of 0.8%. Buybacks help bolster shareholder value over time.

ExlService provides automation services, analytics and outsourcing for businesses with the intent to help companies scale and improve efficiency.

The company has an A financial rating from Morningstar, and it is expected to grow earnings by 14.1% next year. Sales have increased on average of 13.5% per year over the last five years.

It’s trading on the cheaper end of P/E ratio values relative to historic norms right now. Over the past five years, values have ranged between 24 and 55. So, the current P/E ratio of 29.5 is at the low end of that range.

The stock is well below its 52-week high. Such a pullback would end up providing a good buying opportunity if the stock resumes its more-than-a-decade-long uptrend.

The company doesn’t pay a dividend, but it does have a buyback yield of 2.1%.

Sterling is a construction company focused on building e-infrastructure such as data centers and warehouses. It also works on transportation—such as roads and bridges—as well as building family homes and concrete foundations.

The company has a C financial rating from Morningstar, and it is expected to grow earnings by 13.1% next year. Sales have increased on average of 13.3% per year over the last five years.

The stock is trading below its 52-week high. Still, STRL’s average annual total return in the past 24 months has been about a high-octane 70% compared to a little more than a plodding 2% for the overall market average in the form of the , according to Morningstar Direct.

Franklin Electric sells water and fuel pump systems. It has an A financial health rating from Morningstar, a 1% dividend yield and a 0.7% buyback yield.

Sales have steadily grown at an average rate of 10.4% per year over the last five years. Next year analysts expect 5.8% EPS growth, which is below the average yearly growth expected over the next half decade.

The current P/E ratio of 22.7 is actually a good value for the stock. Over the last five years, its P/E ratio has ranged between 19.5 and 40.7, so 22 is near the bottom of the end of that range. The stock is below its 52-week high. However, the stock has been in an uptrend, albeit a choppy one, since 2016.

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