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8 Cheap Stocks for a Pricey Market

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In a market obsessed with sexy, fast-growing technology companies, a better long-term strategy may be to look for wallflowers. Wall Street's rally this year has been led by the tech world's most storied franchises, including Amazon.com, Apple and Facebook. That has dimmed investors' interest in many other companies, particularly those that are short on glamour or that face challenges reinvigorating their own growth.

We went looking for stocks that seemed to be cheaper than they deserved, and we came up with eight names. All are relatively depressed, though for different reasons. And for the most part, the companies are attempting to transform themselves in ways that they believe will result in faster growth.

The obvious caveat here is that business transformations don't always succeed. That can make "cheap" stocks a lot cheaper before they finally hit bottom — or just keep them languishing indefinitely. And even if the turnaround strategies succeed, all of our picks are more likely to offer a get-rich-slowly payoff than overnight riches. That said, here are eight ideas for investors who prefer hunting for value over chasing highfliers.

Data is as of May 22, 2017. Click on symbol links in each slide for current share prices and more.

SEE ALSO: Where to Invest for the Rest of 2017

Price-earnings ratios are based on estimated year-ahead profits. Sales are for the previous four quarters.

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