Cheap stocks can be hard to find in a high-flying market like the current one. The S&P 500 is flirting with all-time highs following its best first-quarter performance in a generation, and investor confidence has returned after the pullback at the end of 2018. The Federal Reserve's decision to stop raising interest rates for the foreseeable future, apparent steps toward a trade deal with China, and strong corporate earnings, as well as a healthy IPO market have all helped propel stocks higher this year.
For value investors, that can create a dilemma. Warren Buffett, Berkshire Hathaway CEO and a titan of value investing, has bemoaned the high price tags companies carry today -- at around 22, the market's average price-to-earnings (P/E) ratio is significantly above its historical average closer to 15. But though industries like tech continue to trade at lofty valuations, there are some bargains to be found. Let's take a good look at three rock-solid stocks trading at P/E ratios under 11: CVS Health (NYSE:CVS), Winnebago Industries (NYSE:WGO), and Delta Air Lines (NYSE:DAL).
Source: Motley Fool
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