Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

One company value investors might notice is Arrow Electronics (ARW). ARW is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock holds a P/E ratio of 9.83, while its industry has an average P/E of 11.01. Over the last 12 months, ARW's Forward P/E has been as high as 10.98 and as low as 6.99, with a median of 9.58.

Investors should also recognize that ARW has a P/B ratio of 1.22. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. ARW's current P/B looks attractive when compared to its industry's average P/B of 1.36. Over the past year, ARW's P/B has been as high as 1.27 and as low as 1, with a median of 1.16.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. ARW has a P/S ratio of 0.24. This compares to its industry's average P/S of 0.31.

Finally, investors should note that ARW has a P/CF ratio of 9.17. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. This stock's P/CF looks attractive against its industry's average P/CF of 9.45. Over the past 52 weeks, ARW's P/CF has been as high as 9.25 and as low as 4.81, with a median of 6.32.

These are just a handful of the figures considered in Arrow Electronics's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that ARW is an impressive value stock right now.

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