3 Great U.S. Companies to Invest in Right Now

Canadians should look south of the border and consider snatching up great U.S. company stocks like Match Group Inc. (NASDAQ:MTCH) and others.

| More on:
A person looks at data on a screen

Image source: Getty Images

The Dow Jones Industrial Average and the S&P 500 both enjoyed modest gains to start the week on Monday, September 11. Meanwhile, the NASDAQ rose over 150 points. Today, I want to veer away from the Canadian market and look to our southern neighbours. In this piece, I will highlight three great U.S. companies that Canadians should feel good about investing in right now. Let’s jump in!

The rise of online dating is vaulting this top U.S. company

Match Group (NASDAQ:MTCH) is the first great U.S. company I’d look to own shares of in the first half of September 2023. This Dallas-based company provides dating products to a worldwide client base. Shares of Match Group have dipped 3.4% month over month as of close on Monday, September 11. Meanwhile, the stock is still up 6% so far in 2023. Investors can see more of its recent and past performances with the interactive price chart below.

Canadian investors should be eager to get in on the online dating market. Online dating is now statistically the most common way couples meet and form long-term relationships. Grand View Research recently valued the global online dating application market at US$7.93 trillion in 2022. The same report projects that this market will deliver a compound annual growth rate (CAGR) of 7.6% from 2023 through to 2030.

This company released its second-quarter (Q2) fiscal 2023 earnings on August 1. It posted revenue growth of 4% to $830 million. Moreover, the company surged back to profitability and posted net income of $137 million — up from a net loss of $31.9 million in the prior year. Shares of Match Group are trading in more attractive value territory compared to its industry peers. It is still on track for strong earnings growth going forward.

Bet on the fitness craze with this exciting stock

Planet Fitness (NYSE:PLNT) is the second top U.S. company I’d target today. This Hampton-based company franchises and operates fitness centres under the Planet Fitness brand. Its shares have dropped 5.6% over the past month. The stock has now plunged 25% in the year-to-date period.

Custom Market Insights valued the global health and fitness club market size at US$83.2 billion in 2022 and expected it to reach US$88.5 billion in 2023. Moreover, it forecast that this market will deliver a CAGR of 7.5% from 2022 through to 2030, reaching a valuation of US$125 billion. Planet Fitness was named in the report as a key driver for the U.S. market.

In Q2 2023, Planet Fitness delivered system-wide store sales growth of 8.7%. Meanwhile, total revenue climbed 27% year over year to $286 million. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) were reported at $118 million — up from $89.1 million in the previous year.

This stock is also trading in favourable value territory compared to its competitors.

One more great U.S. company I want to invest in right now

Delta Airlines (NYSE:DAL) is the third and final U.S. company I’d look to snatch up in the late summer season. North American airliners have stormed back following the brutal challenges that the sector faced during the COVID-19 pandemic. This Atlanta-based company is one of the top airliners in the United States. Its shares have surged 25% so far in 2023.

This company delivered operating revenue of $15.6 billion in Q2 2023 — the highest quarterly revenue recorded in Delta’s history. Moreover, it posted record operating income of $2.5 billion. Delta Air Lines continues to project strong earnings, as travel demand has soared in North America in 2023. This stock now offers a very attractive price-to-earnings ratio of 8.7. It is not too late to jump on the terrific value offered by this super airline stock.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Ambrose O'Callaghan has no position in any of the stocks mentioned. The Motley Fool recommends Match Group. The Motley Fool has a disclosure policy.

More on Investing

gas station, convenience store, gas pumps
Investing

Where Will Couche-Tard Stock Be in 5 Years?

I think Couche-Tard will be in much better shape in five years' time. Here's why.

Read more »

Senior uses a laptop computer
Retirement

Dividend Fortunes: 2 Canadian Stocks Leading the Way to Retirement

These two TSX stocks with an excellent track record of dividend growth are ideal for your retirement portfolio.

Read more »

how to save money
Tech Stocks

Should You Buy Shopify Stock Hand Over Fist Before November 12?

Here are the top reasons why you may want to consider buying Shopify stock before its upcoming earnings event.

Read more »

Happy golf player walks the course
Stock Market

CRA: How This Tax Break Can Help You Save $2,355.75 in 2025

The Basic Personal Amount is a universal tax break that can lower the tax liability of Canadian residents in 2025.

Read more »

A worker overlooks an oil refinery plant.
Energy Stocks

Best Stock to Buy Right Now: Cenovus vs Baytex?

It may not seem like a good time to buy most energy stocks, but there are always exceptions.

Read more »

profit rises over time
Dividend Stocks

Buy 2,990 Shares of This Stock for $165.25/Month in Passive Income

A high-yield dividend stock can transform your investment into monthly passive income streams.

Read more »

close-up photo of investor Warren Buffett
Dividend Stocks

3 Warren Buffett Stocks to Buy Hand Over Fist in November

Warren Buffett has been buying Occidental Petroleum (NYSE:OXY) hand over fist. He previously owned the similar Canadian oil giant Suncor…

Read more »

dividend growth for passive income
Dividend Stocks

Is Intact Financial Stock a Buy for its 1.8% Dividend Yield?

Intact Financial's dividend is not that attractive, but its strong history of execution and dividend growth are compelling factors for…

Read more »