When a stock hits a fresh low, it can either signal a dirt cheap dream stock or a dreadful stock to avoid. Separating the wheat from the chaff is difficult, but finding well-run companies at bargain-basement prices is a great way to accumulate a fortune over the long run.

With that in mind, we'll use the aggregate intelligence of the 125,000-plus investors participating in Motley Fool CAPS to see what the community is saying about stocks hitting 52-week lows today. The community's approval (signified by four- and five-star ratings) could indicate that further research is in order.

Here are three such stocks:

Company

Today’s Intraday Price

Industry

CAPS Rating (out of 5)

Fools Saying Outperform

Owens Corning (NYSE:OC)

$7.78

Building Products

3 Stars

394 of 415

Embraer-Empresa Brasileir de Aero (ADR) (NYSE:ERJ)

$11.80

Aerospace and Defense

5  Stars

643 of 663

Pioneer Drilling Company (AMEX:PDC)

$3.91

Energy Equipment and Services

4 Stars

535 of 556

Source: Motley Fool CAPS, as of Feb. 23, 2009.

Top-rated building products companies:

  • AAON, Inc. (NASDAQ:AAON): Stock price is 6% lower than last year.
  • Apogee Enterprises, Inc. (NASDAQ:APOG): Stock price is 30% lower than last year.

Top-rated aerospace and defense companies:

  • American Science & Engineering, Inc. (NASDAQ:ASEI): Stock price is 29% higher than last year.
  • Cubic Corp (NYSE:CUB): Stock price is 23% higher than last year.

Join us on CAPS to learn more about these and countless other interesting stock ideas.

Disclosure is important to us here at The Motley Fool. The stocks mentioned in this article received their CAPS ratings from participants in The Motley Fool's CAPS service and have hit 52-week lows during today's trading. No individual person selected the stocks in this article, so there is no author to disclose an interest in them. Annual performance is measured over a 365-day period. Since this article was automatically generated by identifying the stocks rated by the CAPS community and by buyers in today’s market, it is possible that Motley Fool personnel (and even The Motley Fool itself, through our Million Dollar Portfolio, Motley Fool Pro, and Ready Made Millionaire services), have positions in these stocks. We thought you'd like to know that. You can learn more about The Motley Fool’s disclosure policy here.