These 3 growth stocks still look dirt cheap despite the FTSE hitting all-time highs

I
get
nervous
buying
growth
stocks
after
the
market
has
been
on
a
tear,
because
I
fear
overpaying

at
the
top
of
the
cycle.
I’m
happier
when
the
market
is
down
in
the
dumps,
and
there’s
a
chance
of
buying
at
the
bottom.

This
makes
me
nervous
buying

FTSE
100
growth
stocks
today,
as
the
index
breaks
new
all-time
highs.
Yet
a
number
of
stocks
still
look
really
good
value,
including
these
three.

Lloyds
of
London
insurer

Beazley
(LSE:
BEZ)
looks
super
cheap
trading
at
just
4.18
times
trailing
earnings.
Especially
with
the
FTSE
100
as
a
whole
trading
at
12.4
times.

Bargain
shares

I
expected
to
see
dismal
share
price
performance
but
in
fact
the
Beazley
share
price
is
up
17.06%
over
the
last
three
months,
and
9.53%
over
the
year.

Beazley
got
a
real
lift
on
7
March,
when
it
reported
that
full-year
2023
profits
before
tax
jumped
155%
to
a
record
$1.25bn.
Gross
premiums
have
been
climbing
for
years
but
there’s
a
key
metric
it
has
no
control
over,
and
that’s
claims.
Costs
rocketed
during
the
pandemic,
for
example,
plunging
Beazley
to
a
loss.

Investors
get
a
modest
dividend,
with
the
yield
currently
2.23%
a
year,
but
the
board
recently
agreed
to
a
generous
$325m

share
buyback
programme. It’s
a
successful
company
going
cheap,
and
I’m
tempted
to
buy
it.

Here’s
a
cheap
growth
stock
I
did
buy
recently:

JD
Sports
Fashion
(LSE:
JD).
I’d
been
standing
on
the
sidelines
for
years,
watching
its
shares
grow
and
grow,
but
decided
I’d
left
it
too
late
to
join
the
fun. 

I
spotted
my
chance
on
4
January,
when
its
shares
crashed
20%
after
the
board
warned
profits
would
be
£125m
lower
than
predicted
after
a
poor
festive
trading
period.
I
bought
them
on
22
January.

A
trading
update
on
28
March
suggested
JD
had
stopped
the
rot,
although
the

“challenging”
market
was
still
causing
issues.
My
position
is
up
a
modest
4.38%.
I
think
there’s
still
a
buying
opportunity
here,
with
the
JD
Sports
share
price
down
26.08%
over
12
months.

The
FTSE
100
is
flying

The
stock
looks
decent
value,
trading
at
8.68
times
trailing
earnings.
Sports
and
fashion
retail
is
a
tough
market
but
with
a
five-year
view,
I’m
optimistic.

Meanwhile,
British
Gas
owner

Centrica
(LSE:
CNA)
is
incredibly
cheap
trading
at
just
3.39
times
earnings.
That’s
particularly
surprising
given
that
its
shares
have
been
going
gangbusters,
up
19.75%
over
12
months
and
142.83%
over
three
years.

The
Centrica
share
price
got
a
real
boost
from
the
energy
shock,
but
suffered
as
gas
and
oil
prices
retreated
in
2023.
Adjusted
operating
profits
plunged
from
£3.3bn
in
2022
to
£2.72bn,
a
drop
of
17.6%.

The
board
nonetheless
hiked
the
dividend
by
33%
to
4p
a
share.
Yet
it’s
not
a
super-high
income
stock,
with
a
modest
trailing
yield
of
2.99%.
Centrica
has
warned
that
revenues
will
fall
in
2024,
based
on
the
assumption
that
the
oil
price
would
continue
to
decline.
That
may
change
though.
Much
now
depends
on
the
Middle
East.

JP
Morgan
recently
highlighted
how
cheap
Centrica
is
today.
It
reckons
the
group’s
£1bn
share
buyback
could
be
extended
by
a
further
£500m
from
the
summer.
We’ll
see.
Given
the
low
valuation,
I’m
tempted
to
buy
it
today.