3 Bargain Stocks You Can Buy Right Now

By Markets Fool.com

No matter how high the market goes there are always deals for investors to find. It might just take a little searching to uncover the bargains on the stock market today.

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We asked three of The Motley Fool's contributors where they see bargains on the market, and they came up with three diverse companies spanning the world of gaming, fashion, and restaurants. Here are three bargain stocks you can buy today.

Wynn Resorts has been pummeled lately, but over the long term Steve Wynn is someone investors want to get behind. Image source: Wynn Resorts.

Travis Hoium(Wynn Resorts): Gaming companies with deep roots in Macauhave taken a beating in the last six months as gaming revenue in the special administrative region of China has fallen. China's crackdown on corruption has spooked gamblers and junkets, which bring players to casinos in exchange for a percentage of what a player loses in their stay. Macau's gaming revenue declined 2.6% in 2014, highlighted by a 30.4% drop during December.

One of the companies feeling the pain is Wynn Resorts , which is among just six casino operators in Macau. The stock has fallen 25% over the past year, but the future is still bright for one of the world's largest gaming companies.

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Wynn Resorts is constructing Wynn Palace, a $4 billion property that will have 1,700 hotel rooms, 500 gaming tables, and a performance lake, similar to the design of the Bellagio in Las Vegas, another Steve Wynn creation. What's key is that this property is in the Cotai region of Macau, where a boom in megaresorts is under way.

When it opens, Wynn Palace could double both revenue and earnings for Wynn Resorts, creating a boon for investors. But the stock is a bargain now: shares trade at just 18 times earnings and yield a 4.1% dividend. That's a steal if Macau returns to growth and Wynn Palace performs as expected.

Bob Ciura (Michael Kors):Michael Kors Holdings is a bargain stock. Despite the stock's 19 times earnings multiple, Kors is trading at a discount to the broader market. The retailer of luxury clothing and accessories is growing by leaps and bounds, which means its underlying earnings growth more than justifies an above-average valuation. Due to its aggressive new store openings, Michael Kors' earnings growth could far exceed that of theS&P 500.

Over the past two quarters, Michael Kors grew both revenue and earnings per share by 43%. One of the biggest factors working in Michael Kors' favor is its strength in the international markets. Last quarter, sales in Europe and Japan more than doubled, and aggressive new store openings mean there's plenty of growth left. Management believes Europe can generate $1.5 billion in annual revenue, and that Japan can eventually become a $300 million market by revenue. For context, Michael Kors generated $1.1 billion in revenue in the last quarter. What's more, Michael Kors is just getting off the ground in China and the Asia-Pacific excluding Japan. Michael Kors only has 116 stores in China, Australia, South Korea, and Southeast Asia, but intends to increase its store count by 72% in those markets over the next several years.

The bottom line is that revenue and earnings growth are likely to keep growing at high rates organically. Michael Kors also announced a fresh $1 billion share buyback authorization after last quarter, which should boost earnings per share. Analysts expect Michael Kors to grow earnings by 30% for the full fiscal year. By comparison, Standard & Poor's projects 11% earnings growth for the S&P 500 over the next five years. Since Michael Kors' valuation is just about on par with the S&P 500, it seems Michael Kors is undervalued.

Photo source: The Motley Fool.

(Potbelly): Sandwich shop chainPotbelly is an attractive bargain buy for investors today because, while its share price has plummeted recently due to weak same-store sales, the company still has a long runway of growth ahead. The stock lost more than 45% of its value last year, making it one of the worst-performing restaurant stocks of 2014. In fact, shares now trade around $14 a pop, 56% below the company's post-IPO high of nearly $32 per share.

Nevertheless, Potbelly is still in the early stages of growth, and I believe patient investors could seesignificant upside from here. Potbelly operates in the fast-casual space, which is the fastest-growing segment in the restaurant industry today. This should work to its benefit as it expands its store base in the quarters ahead. The sandwich chain has just 319 company-operated shops in the United States, but management plans to have at least 1,000 stores in operation in the coming years.

Potbelly is also well positioned to grow its franchise business abroad. The company has 12 franchise locations in the Middle East, as well as a franchise agreement with Alshaya to open new locations in Egypt, Jordan, Lebanon, Oman, Qatar, and Saudi Arabia. This is a significant growth opportunity for Potbelly as it continues to develop its brand both domestically and internationally.

With shares now trading near the stock's 52-week low, investors with a three- to five-year time horizon have an opportunity to own a well run company with ample growth ahead.

The article 3 Bargain Stocks You Can Buy Right Now originally appeared on Fool.com.

Bob Ciura owns shares of Michael Kors Holdings. Travis Hoium owns shares of Wynn Resorts, Limited. The Motley Fool recommends Michael Kors Holdings. The Motley Fool owns shares of Michael Kors Holdings. Try any of our Foolish newsletter services free for 30 days. 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.