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 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 has a Forward P/E ratio of 10.13. This compares to its industry's average Forward P/E of 15.46. 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 10.58.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. PPC has a P/S ratio of 0.62. This compares to its industry's average P/S of 0.66.

Finally, investors will want to recognize that PPC has a P/CF ratio of 8.03. 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. This stock's P/CF looks attractive against its industry's average P/CF of 13.70. 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 8.88.

These are only a few of the key metrics included in Pilgrim's Pride'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, PPC looks like an impressive value stock at the moment.

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