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.

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

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.

One company value investors might notice is Encompass Health (EHC). EHC is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A.

Investors should also note that EHC holds a PEG ratio of 1.13. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. EHC's industry currently sports an average PEG of 2.19. Over the last 12 months, EHC's PEG has been as high as 1.50 and as low as 1.12, with a median of 1.30.

Investors should also recognize that EHC has a P/B ratio of 3.56. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. EHC's current P/B looks attractive when compared to its industry's average P/B of 3.81. Over the past 12 months, EHC's P/B has been as high as 3.94 and as low as 2.97, with a median of 3.57.

Finally, we should also recognize that EHC has a P/CF ratio of 13.31. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 24.37. Over the past 52 weeks, EHC's P/CF has been as high as 14.64 and as low as 10.66, with a median of 13.02.

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

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