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.

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.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

One company to watch right now is Assurant (AIZ). AIZ is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value.

Another notable valuation metric for AIZ is its P/B ratio of 2.07. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 2.36. Within the past 52 weeks, AIZ's P/B has been as high as 2.25 and as low as 1.68, with a median of 1.94.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. AIZ has a P/S ratio of 0.93. This compares to its industry's average P/S of 0.98.

Finally, our model also underscores that AIZ has a P/CF ratio of 11.66. 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 12.53. Over the past year, AIZ's P/CF has been as high as 12.55 and as low as 8.50, with a median of 10.46.

These are only a few of the key metrics included in Assurant'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, AIZ looks like an impressive value stock at the moment.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Assurant, Inc. (AIZ) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research