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.

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. 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.

Pilgrim's Pride (PPC) is a stock many investors are watching right now. PPC is currently sporting a Zacks Rank of #1 (Strong Buy), as well as a Value grade of A. The stock has a Forward P/E ratio of 9.56. This compares to its industry's average Forward P/E of 14.07. Over the past year, PPC's Forward P/E has been as high as 13.02 and as low as 8.43, with a median of 10.20.

Finally, investors should note that PPC has a P/CF ratio of 7.55. 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. PPC's current P/CF looks attractive when compared to its industry's average P/CF of 11.02. Over the past 52 weeks, PPC's P/CF has been as high as 10.94 and as low as 7.26, with a median of 8.77.

These are just a handful of the figures considered in Pilgrim's Pride's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that PPC is an impressive value stock right now.

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