A once-in-a-decade chance to buy these 3 UK stocks on the cheap?
The FTSE 100 has surged to new peaks in 2026, but many top-quality UK stocks still look cheap. Scores of great companies across the London stock market have fallen heavily in the last year.
Some of these drops can be understood, but plenty of UK shares have also fallen beyond what is warranted. I’ve sought to find some of these cheap stocks and explain why now could be a great time to invest.
In some cases, I didn’t have to look very far. Here are three FTSE 250 shares I own that look dirt cheap right now.
Softcat
Tough market conditions have seen Softcat (LSE:SCT) shares dropped sharply since last summer. As a consequence, its forward price-to-earnings (P/E) ratio has tumbled to 19.6 times.
That might not look low on paper. But compared to the European IT sector’s average of 34 to 35, it suggests a possible bargain to be had.
Things are more difficult than usual as companies pause tech spending. However, Softcat continues to deliver impressive growth — profits rose by double-digits for the twentieth straight year in the 12 months to June. The firm’s expertise across multiple fast-growing tech trends suggests to me it should continue outperforming. It’s why I opened a position in the company this month.
City analysts largely think this reflects an attractive buying opportunity. Of the 13 who rate the stock, nine give it a Strong Buy. Three consider it a Hold. One has slapped a Strong Sell on Softcat.
Ibstock
Ibstock (LSE:IBST) is the UK’s largest brick manufacturer by volume. And it’s fallen sharply as hopes over a sustained improvement in housebuilding have dwindled.
But has the market overreacted? I think so. Key housing data has picked up since the start of 2026, and with interest rates falling the market could accelerate. Looking beyond this year, the brickmaker should benefit as planning red tape is slashed to boost build rates.
Brokers aren’t exactly bowled over by Ibstock’s investing case today. Four of the 10 who rate the company consider it a Buy. The remainder think it’s a Hold.
However, at current prices it’s worth serious attention, in my view. The FTSE 250 firm’s P/E-to-growth (PEG) ratio is 0.5. Any reading below one suggests a share trading below value.
Spire Healthcare
Spire Healthcare (LSE:SPI) is one of the largest private hospital groups in the UK. Its shares slumped in December as it warned of lower NHS-related work due to government budget restrictions.
Yet it’s started to rebound in 2026, and I’m confident it will recover even if a touted takeover fails to materialise. Demand from self-pay patients is still rising strongly, and should carry on as long NHS waiting lists endure, pulling profits (and Spire’s share price) higher.
Analysts are unanimous in their positive view of the company today. Six currently have ratings on the business. Five consider it a Strong Buy, with the other slapping a standard Buy on the healthcare giant.
For 2026, Spire trades on a PEG ratio of 0.4.
Final word
I’m not saying investors won’t be able to pick these UK stocks up more cheaply in the future. However, each offers brilliant value for money at current prices as I’ve shown. And so they demand serious consideration from savvy investors.
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Royston Wild has positions in Ibstock Plc and Softcat Plc. The Motley Fool UK has recommended Ibstock Plc and Softcat Plc. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.
