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.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

One stock to keep an eye on is AZZ (AZZ). AZZ is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock has a Forward P/E ratio of 14.54. This compares to its industry's average Forward P/E of 24.75. Over the past 52 weeks, AZZ's Forward P/E has been as high as 17.72 and as low as 12.53, with a median of 15.20.

AZZ is also sporting a PEG ratio of 1.04. 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. AZZ's PEG compares to its industry's average PEG of 2.10. Over the last 12 months, AZZ's PEG has been as high as 1.27 and as low as 0.90, with a median of 1.09.

We should also highlight that AZZ has a P/B ratio of 2.48. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. This company's current P/B looks solid when compared to its industry's average P/B of 5.02. AZZ's P/B has been as high as 3.69 and as low as 1.55, with a median of 2.68, over the past year.

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. AZZ has a P/S ratio of 1.56. This compares to its industry's average P/S of 2.98.

Finally, we should also recognize that AZZ has a P/CF ratio of 11.82. 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 stock's P/CF looks attractive against its industry's average P/CF of 35.06. AZZ's P/CF has been as high as 13.65 and as low as 9.25, with a median of 10.75, all within the past year.

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

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