2 Stocks That Hit a 52-Week Low: Should You Buy Today?

The S&P/TSX Composite Index was down 160 points in early afternoon trading on April 29. North American markets have been hammered by volatility in the second half of April. Today, I want to look at two TSX stocks that recently hit a 52-week low. Should you avoid these equities or look to snatch them up on the dip? Let’s jump in.

Linamar (TSX:LNR) is a Guelph-based company that is engaged in the design, development, and production of engineered automobile products in Canada and around the world. Its shares have dropped 33% in 2022 as of mid-afternoon trading on April 29. This has pushed the stock into negative territory in the year-over-year period.

This company released its fourth quarter and full year 2021 results on March 9, 2022. Linamar delivered record new business wins for the full year. Meanwhile, sales rose to $6.53 billion compared to $5.81 billion in 2020. This top auto parts manufacturer has also moved into the fast-growing electric vehicle (EV) space.

Equitable Group (TSX:EQB) is a Toronto-based alternative lender. This housing-linked stock has been pummeled as the Bank of Canada (BoC) has fully committed to tightening rates in 2022. Shares of Equitable Group have dropped 18% so far this year.

Investors can expect to see its first quarter 2022 earnings on May 10. Shares of Equitable Group possess a very favourable price-to-earnings ratio of 7.0. Canada housing is facing a serious challenge due to rising rates, but it still boasts strong fundamentals. Equitable Group offers very nice value at the time of this writing.