While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.

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 tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

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.

Townsquare Media (TSQ) is a stock many investors are watching right now. TSQ is currently holding a Zacks Rank of #1 (Strong Buy) and a Value grade of A. The stock is trading with P/E ratio of 9.98 right now. For comparison, its industry sports an average P/E of 29.40. TSQ's Forward P/E has been as high as 11.02 and as low as 5.80, with a median of 8.30, all within the past year.

TSQ is also sporting a PEG ratio of 0.83. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. TSQ's PEG compares to its industry's average PEG of 1.92. Within the past year, TSQ's PEG has been as high as 0.92 and as low as 0.48, with a median of 0.69.

These are only a few of the key metrics included in Townsquare Media's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, TSQ looks like an impressive value stock at the moment.

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Townsquare Media, Inc. (TSQ) : Free Stock Analysis Report

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