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 fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

One company value investors might notice is Omnicom Group (OMC). OMC is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A.

Another valuation metric that we should highlight is OMC's P/B ratio of 3.92. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 10.90. OMC's P/B has been as high as 4.84 and as low as 3.89, with a median of 4.39, over the past year.

Finally, we should also recognize that OMC has a P/CF ratio of 10.61. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. OMC's P/CF compares to its industry's average P/CF of 11.36. OMC's P/CF has been as high as 12.32 and as low as 10.26, with a median of 11.06, all within the past year.

These figures are just a handful of the metrics value investors tend to look at, but they help show that Omnicom Group is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, OMC feels like a great value stock at the moment.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Omnicom Group Inc. (OMC) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research