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 fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

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.

The Shyft Group (SHYF) is a stock many investors are watching right now. SHYF 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 13.68. This compares to its industry's average Forward P/E of 21.61. Over the last 12 months, SHYF's Forward P/E has been as high as 26.31 and as low as 11.89, with a median of 16.77.

We should also highlight that SHYF has a P/B ratio of 1.66. 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 solid versus its industry's average P/B of 3.65. SHYF's P/B has been as high as 2.32 and as low as 1.37, with a median of 1.69, 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. This is a prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. SHYF has a P/S ratio of 0.53. This compares to its industry's average P/S of 0.6.

Investors could also keep in mind Strattec Security (STRT), an Automotive - Original Equipment stock with a Zacks Rank of # 1 (Strong Buy) and Value grade of A.

Shares of Strattec Security are currently trading at a forward earnings multiple of 16.92 and a PEG ratio of 1.69 compared to its industry's P/E and PEG ratios of 21.61 and 1.17, respectively.

STRT's Forward P/E has been as high as 26.50 and as low as 12.04, with a median of 16.48. During the same time period, its PEG ratio has been as high as 2.65, as low as 1.20, with a median of 1.65.

Furthermore, Strattec Security holds a P/B ratio of 0.85 and its industry's price-to-book ratio is 3.65. STRT's P/B has been as high as 0.85, as low as 0.40, with a median of 0.62 over the past 12 months.

These figures are just a handful of the metrics value investors tend to look at, but they help show that The Shyft Group and Strattec Security are likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, SHYF and STRT feels like a great value stock at the moment.

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