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There are plenty of metrics to use in determining whether a company is overvalued or undervalued. Given the unstable economic situation globally and the clear demand for top line growth by investors we thought using the Price/Sales Ratio would an interesting metric to implement. This ratio illustrates how much investors are willing to pay for every dollar of a company’s sales. The lower this ratio number is the more potential value there may be.

Revenue growth (1-Fiscal Year) presents a picture of which firm’s are growing the top line over a more extended period of time than a one quarter two quarters.

We ran a screen for companies with a P/S Ratio less than 1 that were trading near their 52 Week lows. From this narrowed pool we then screened for firms had grown the top line over the last fiscal year by at least 10%.

The Price/Sales Ratio ranks the list from highest to lowest:

1. Agrium Inc. (AGU)

Sector

Basic Materials

Industry

Agricultural Inputs

Market Cap

$13,378M

Beta

1.63

The company is a retailer of agricultural products and services. The firm has a P/S Ratio of 1.00 AGU is 17.08% above its 52-Week Low. The firm’s 1-Year Fiscal Revenue Growth Rate is 15.24%. The short interest was N/A as of 08/31/2011.

2. Allegheny Technologies Inc. (ATI)

Sector

Industrials

Industry

Metal Fabrication

Market Cap

$6,119M

Beta

1.74

The company offers metal products and solutions. The firm has a P/S Ratio of 1.00. ATI is 10.53% above its 52-Week Low. The firm’s 1-Year Fiscal Revenue Growth Rate is 32.50%. The short interest was 5.80% as of 08/31/2011.

3. NII Holdings Inc. (NIHD)

Sector

Communication Services

Industry

Telecom Services

Market Cap

$6,119M

Beta

1.99

The company offers digital wireless communication services with a focus on Latin American markets. The firm has a P/S Ratio of 1.00. NIHD is 3.62% above its 52-Week Low. The firm’s 1-Year Fiscal Revenue Growth Rate is 27.37%. The short interest was 1.60% as of 08/31/2011.

4. Telecom Argentina SA. (TEO)

Sector

Communication Services

Industry

Telecom Services

Market Cap

$3,932M

Beta

1.03

The company offers fixed-line public telecommunication and other telecom related services within Argentina. The firm has a P/S Ratio of 1.00. TEO is 2.62% above its 52-Week Low. The firm’s 1-Year Fiscal Revenue Growth Rate is 20.12%. The short interest was N/A as of 08/31/2011.

5. Kyocera Corporation. (KYO)

Sector

Technology

Industry

Consumer Electronics

Market Cap

$16,316M

Beta

1.12

The company is involved in a variety of high-tech fields. The firm has a P/S Ratio of 0.99. KYO is 6.63% above its 52-Week Low. The firm’s 1-Year Fiscal Revenue Growth Rate is 17.98%. The short interest was N/A as of 08/31/2011.

6. Nabors Industries Ltd. (NBR)

Sector

Energy

Industry

Oil & Gas Drilling

Market Cap

$5,040M

Beta

1.92

The company is a landing drilling company with operations worldwide. The firm has a P/S Ratio of 0.99. NBR is 8.21% above its 52-Week Low. The firm’s 1-Year Fiscal Revenue Growth Rate is 18.63%. The short interest was 2.20% as of 08/31/2011.

7. OmniVision Technologies, Inc. (OVTI)

Sector

Technology

Industry

Semiconductors

Market Cap

$1,018M

Beta

1.41

The company designs and sells semiconductor image sensor devices. The firm has a P/S Ratio of 0.99. OVTI is 2.83% above its 52-Week Low. The firm’s 1-Year Fiscal Revenue Growth Rate is 58.62%. The short interest was 12.70% as of 08/31/2011.

8. Liberty Global, Inc. (LBTYA)

Sector

Communication Services

Industry

Pay TV

Market Cap

$10,936M

Beta

1.61

The company offers a variety of broadband communication services internationally. The firm has a P/S Ratio of 0.97. LBTYA is 29.58% above its 52-Week Low. The firm’s 1-Year Fiscal Revenue Growth Rate is 20.27%. The short interest was 5.70% as of 08/31/2011.

9. Methanex Corporation. (MEOH)

Sector

Basic Materials

Industry

Specialty Chemicals

Market Cap

$2,214M

Beta

1.94

The company produces and sells methanol all over the world. The firm has a P/S Ratio of 0.97. MEOH is 6.21% above its 52-Week Low. The firm’s 1-Year Fiscal Revenue Growth Rate is 64.13%. The short interest was N/A as of 08/31/2011.

10. Stanley Black & Decker Inc. (SWK)

Sector

Industrials

Industry

Tools & Accessories

Market Cap

$9,314M

Beta

1.39

The company develops and produces a variety of security products. The firm has a P/S Ratio of 0.97. SWK is 4.91% above its 52-Week Low. The firm’s 1-Year Fiscal Revenue Growth Rate is 125.03%. The short interest was 3.30% as of 08/31/2011.

We hope this lists helps investors as they do their own due diligence on cheap growth companies.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: 10 Cheap Stocks Coming Off Lows With Strong Growth