The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.

Pilgrim's Pride (PPC) is a stock many investors are watching right now. PPC is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock holds a P/E ratio of 11.09, while its industry has an average P/E of 16.09. Over the past year, PPC's Forward P/E has been as high as 18.59 and as low as 8.43, with a median of 10.65.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. This is a prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. PPC has a P/S ratio of 0.68. This compares to its industry's average P/S of 0.86.

Finally, our model also underscores that PPC has a P/CF ratio of 8.39. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. This stock's P/CF looks attractive against its industry's average P/CF of 14.06. Over the past year, PPC's P/CF has been as high as 14.59 and as low as 7.26, with a median of 8.99.

Value investors will likely look at more than just these metrics, but the above data helps show that Pilgrim's Pride is likely undervalued currently. And when considering the strength of its earnings outlook, PPC sticks out at as one of the market's strongest value stocks.

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