2 ASX shares near 52-week lows I'd buy today

Share prices are always changing, and occasionally they may hit a 52-week low. When businesses are trading near the lowest they have over the past year, that says to me they could be contrarian opportunities.

Of course, a stock isn't necessarily great value just because it has declined.

The two ASX shares I'm about to talk about both face challenging operating conditions. But I think they could be a buying opportunity at near 52-week lows.

Myer Holdings Ltd (ASX: MYR)

Myer is best known for its department store business with locations in key shopping destinations. It also has a number of largely apparel businesses including Jacqui E, Just Jeans, Portmans, Dotti, Sass & Bide, Jay Jays, David Lawrence, and Marcs.

As you can imagine, it has been a difficult retail environment – there has been an increase in interest rates, a higher cost of living inflation, and a period of adjustment following the acquisition of apparel brands from Premier Investments Ltd (ASX: PMV).

Myer recently gave a trading update for FY26, which showed total sales of around $4.1 billion, which saw underlying growth of 0.3%. Group comparable sales were up 0.7%. Despite the difficult environment, Myer has managed to deliver growth, which I think bodes well for when conditions improve.

Its profit margins were slightly lower because of higher-than-planned promotional activity to stimulate demand.

Myer is working hard to strengthen its business and I think this will help the company's earnings in the future.

The Myer share price is valued as low as it is because of the challenging retail situation, but I don't think those difficult conditions will last forever.

According to the projection on CommSec, the Myer share price is valued at just 7 times FY27's estimated earnings with a possible FY27 grossed-up dividend yield of 11.5%, including franking credits.

It looks significantly cheaper after falling 50% in the past six months, with it now trading at near a 52-week low.

Australian Finance Group Ltd (ASX: AFG)

Australian Finance Group, or AFG, describes itself as one of Australia's leading providers of mortgage broking and financial services. It has a network of 4,200 accredited brokers, offering access to more than 80 lenders.

Impressively, around 10% of Australian residential mortgages are arranged by an AFG broker. The company plays an important part in the Australian lending sector.

It certainly seems as though the business is now facing a more difficult operating environment following the Federal Budget tax changes – there may be less demand for home loans in the shorter term.

National Australia Bank Ltd (ASX: NAB) recently said that its total Australian home lending applications were 15% lower in the three months to June 2026 compared to the three months to March 2026.

I think the market is underestimating the company's ability to generate earnings from its existing loan book. Plus, even if there has been a bit of a reduction in loan demand, the business should still experience solid loan volumes. With an ongoing share buyback, management think the business is undervalued, and I think that's the case too.

It looks a lot cheaper after falling 25% in the past six months, and now it's trading near its 52-week low.

The post 2 ASX shares near 52-week lows I'd buy today appeared first on The Motley Fool Australia.

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Myer. 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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