Do you have $ 3,000? These TSX stocks can triple your investment!

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Canadian investors who currently have additional cash to spend in their portfolios currently have decisions to make. Valuations are high on S & P / TSX Composite Index early August. However, there are still some very interesting long term options to consider. Today I want to watch three TSX stocks that could triple in value in the first half of this decade. Let’s go.

This leading TSX stock is on the rebound

In the spring of 2019, I suggested to investors to take profits Badger daylight (TSX: BAD). Badger shares were down 19% year over year at the close on August 7. However, this TSX stock gained momentum in 2020. Badger provides non-destructive excavation and related services in Canada and the United States.

The company released its second quarter 2020 results on August 5. Badger’s earnings have been negatively impacted by the COVID-19 pandemic, but they still look strong as the second half of the current fiscal year approaches. In the coming years, Badger still plans to double U.S. revenue from FY2019 levels over the next three to five years. It targets a growth in adjusted EBITDA of 15% over the same period.

Badger’s shares last had a price-to-earnings ratio of 26, putting it in solid territory relative to its industry peers.

Spin Master surged after the wins

Spin Master (TSX: TOY) is a children’s entertainment company that creates, designs, manufactures and markets products and entertainment products to its global customers. Its shares have fallen 31% in 2020 so far. However, TSX stock has jumped 50% in the past three months. The company released its second quarter 2020 results on August 5.

Despite the effects of the COVID-19 pandemic, Spin Master exceeded expectations in the second quarter of 2020. Nonetheless, Adjusted EBITDA fell to $ 21.5 million from $ 55.1 million the year before. Since the start of the year, Spin Master has reported revenue of $ 508.4 million, down 9.2% from the first six months of 2019.

The company has a fantastic balance sheet and has achieved strong profit growth in recent years. The shares are trading in the middle of its 52 week range. This TSX share has room for maneuver as the reopening should boost its activities in the second half of 2020.

Another exciting TSX stock to hook in August

Goodfood Market is an online grocery store that delivers fresh meals and groceries across Canada. Interest in the company has flared since the COVID-19 pandemic rocked the retail world. I had suggested investors continue to stack this TSX stock in July.

The company achieved its first quarter of net income on July 8. Its activity was strongly stimulated by the pandemic, initiating a shift towards electronic commerce. However, there is still significant competition from other leading grocers in Canada.

Goodfood’s revenue climbed 74% year-on-year to $ 86.6 million. Online grocery shopping is a fast growing industry. Canadians who want to step into this emerging space should consider Goodfood now.

On the theme of growth stocks in summer. . .

This tiny TSX stock could be the next Shopify

A little-known Canadian IPO has doubled in value in just a few months, and famous Canadian stock picker Iain Butler sees a potential millionaire in the wait…
Because he thinks this fast-growing company looks a lot like Shopify, a stock officially recommended by Iain 3 years ago – before it skyrocketed 1211%!
Iain and his team have just published a detailed report on this tiny TSX stock. Find out how you can access the NEXT Shopify today!

Click here to find out how!

Foolish contributor Ambrose O’Callaghan has no position in any of the stocks mentioned. The Motley Fool owns stocks and recommends Spin Master. The Motley Fool recommends Goodfood Market.

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