Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

One stock to keep an eye on is Yelp (YELP). YELP is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock has a Forward P/E ratio of 16.95. This compares to its industry's average Forward P/E of 21.44. Over the last 12 months, YELP's Forward P/E has been as high as 35.07 and as low as 16.07, with a median of 22.53.

Investors should also note that YELP holds a PEG ratio of 0.54. 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. YELP's industry currently sports an average PEG of 1.43. Over the past 52 weeks, YELP's PEG has been as high as 0.70 and as low as 0.52, with a median of 0.66.

Finally, our model also underscores that YELP has a P/CF ratio of 13.26. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. YELP's current P/CF looks attractive when compared to its industry's average P/CF of 39.19. Within the past 12 months, YELP's P/CF has been as high as 19.74 and as low as 10.44, with a median of 13.07.

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

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