Can April's Fools Aviva plc (-5%), Supergroup plc (-14%) and Premier Foods plc (-32%) Bounce Back?

Today I'm considering the rebound potential of three recent Footsie fallers.

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Still in fashion

A string of profit warnings from the retail sector has led to severe share price weakness across many of Britain's major fashion specialists. This has certainly proved the case for Supergroup(LSE: SGP), whose share value fell by double-digit percentages during April.

The Superdry vendor's descent kicked off shortly after high street giant Next's shock profit warning in late March. Downbeat updates from luxury play Burberry right through to budget vendor Bonmarche and high-profile retail chain failures have added to the sense of panic.

This sector-wide weakness has led to plenty of genuine growth greats now trading at terrific prices, and I believe Supergroup is one such stock.

The Cheltenham business -- a specialist in the so-called 'urban chic' sub-segment -- is enjoying spectacular sales growth thanks in no small part to aggressive expansion in Europe. And heavy investment in China and the US promises to underpin solid long-term revenues growth too.

The City certainly expects earnings at Supergroup to keep rattling higher, with growth of 14% and 12% predicted for the years to April 2017 and 2018 respectively. I reckon subsequent P/E ratings of 15.7 times and 14.3 times represent terrific value given the fashion play's great growth levers.

A tasty treat

As is usually the case, news of a failed takeover bid for Premier Foods(LSE: PFD) has caused the company's share price to tank in recent weeks, slumping by almost a third in April.

But I reckon investors should pick up where US food giant McCormick failed and buy into the Mr Kipling manufacturer.

While it's true that deflation across the grocery sector remains a problem, the vast investment Premier Foods has chucked at its portfolio of market-leading labels is enabling it to traverse the worst of these pressures. Also, the soaring progress being made on foreign shores also gives reason for cheer -- Premier Foods saw international sales jump 9.8% at constant currencies during October-December.

The number crunchers expect the St Albans firm to enjoy a 3% earnings rise in the period to March 2017, resulting in a mega-low P/E ratio of 4.6 times. And the multiple falls to 4.2 times for 2018 thanks to a predicted 7% bottom-line bounce. I believe Premier Foods is a very appetising stock at these prices.

On the rise

The share price performance of Aviva(LSE: AV) hasn't provided much to write home about during the past month either, the insurer conceding 9% of its value in April.

However, this fresh weakness only bolsters my confidence that Aviva is a sound stock selection for the near-term and beyond.

The financial giant currently deals on a P/E rating of just 8.5 times for 2016, the City expecting earnings to more than double during the year. And forecasts of a further 9% bottom-line improvement leaves Aviva trading on a dirt-cheap ratio of 8.1 times.

This leaves plenty of room in the tank for a positive share price revision, in my opinion. Aviva is clearly a firm that's going places, with surging insurance product demand in established and emerging regions alike driving new business values almost a quarter higher in 2015, to £1.19bn. And the fruits of extensive restructuring should keep sending profits skywards, in my opinion.

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Royston Wild has no position in any shares mentioned. The Motley Fool UK has recommended Burberry and Supergroup. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.