3 ASX shares I think are super cheap right now

Cheap ASX shares anyone?

With the S&P/ASX 200 Index (ASX: XJO) on track for another day of gains today, it’s certainly feeling like a good time to own ASX shares. Although we’re still not at the levels the ASX 200 touched last week (over 6,100 points), the momentum seems to have been regained by the bulls out there.

While this is all well and good for those of us who already own substantial positions, it’s not so rosy for anyone who is looking to add to their investments right now.  It can be very painful looking back on the prices we saw in March and April compared with those on offer today!

But there’s no point crying over spilt milk, as they say. So here are 3 cheap ASX shares that I think are still offering compelling value today.

A cheap ASX retailer

The Premier Investments Limited (ASX: PMV) share price is up more than 3% today after some positive sentiment from a brokering firm earlier this week. Even so, this ASX retailing giant remains substantially below the highs of over $21 we saw in February. Premier Investments is one of my favourite Aussie retailers. It owns the Smiggle, Peter Alexander, Just Jeans, and Jay-Jays chains, all stores with unique and compelling product lines. This company has no doubt been hurt by the coronavirus pandemic and the associated lockdowns and might be hurting for some time yet. But I still think Premier’s future is bright and I believe its current share price is pretty fairly valued.

An REIT income opportunity

Scentre Group (ASX: SCG) is another ASX share I think is offering a nice buy price today. Make no mistake, this real estate investment trust (REIT) has been hit hard by the pandemic. Scentre owns the Westfield shopping centre brand across Australia and New Zealand. March and April were dire months for this REIT as shops closed and customers deserted shopping centres. However, there are strong signs of life right now as restrictions are lifting and customers are returning to the shops. For a long-term income opportunity, I think Scentre shares are a great option to examine today.

An ASX ETF with global exposure

The Vanguard MSCI Index International Shares ETF (ASX: VGS) is my final cheap ASX share to consider today. This exchange-traded fund (ETF) tracks the largest companies across the advanced economies of the world. Its largest weightings are in United States shares like Apple and Microsoft, but it also has significant exposure to European, United Kingdom, Canadian, and Japanese companies as well. Back in February, units of this ETF would have set you back around $89, but today, they are going for $78.28 (at the time of writing). I believe this ETF is a no-brainer for a long-term, diversified and passive investment. As such, I think today’s price presents a great opportunity to stock up.

More reading

• Brokers just upgraded these ASX 200 stocks to “buy” today
• ASX 200 up 0.9%: Big four banks rebound, Appen hits record high
• Is the Downer EDI share price in the buy zone?
• Looking to buy ASX technology shares? Here are 4 to consider
• Why I would buy Telstra and these ASX 200 blue chip shares

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Premier Investments Limited. The Motley Fool Australia has recommended Scentre Group and Vanguard MSCI Index International Shares ETF. 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. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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