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 rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

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 to watch right now is SkyWest (SKYW). SKYW is currently sporting a Zacks Rank of #1 (Strong Buy) and an A for Value. The stock is trading with P/E ratio of 14.04 right now. For comparison, its industry sports an average P/E of 17.36. Over the past 52 weeks, SKYW's Forward P/E has been as high as 14.41 and as low as 9.16, with a median of 11.02.

Investors should also recognize that SKYW has a P/B ratio of 2.02. 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 solid versus its industry's average P/B of 5.36. Over the past year, SKYW's P/B has been as high as 2.02 and as low as 1.03, with a median of 1.46.

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

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SkyWest, Inc. (SKYW) : Free Stock Analysis Report

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