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, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

One company value investors might notice is Accel Entertainment (ACEL). ACEL is currently sporting a Zacks Rank of #1 (Strong Buy) and an A for Value. The stock is trading with P/E ratio of 14.27 right now. For comparison, its industry sports an average P/E of 29.63. Over the past year, ACEL's Forward P/E has been as high as 17.76 and as low as 11.82, with a median of 14.08.

Another valuation metric that we should highlight is ACEL's P/B ratio of 4.71. 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 9.89. ACEL's P/B has been as high as 5.08 and as low as 3.90, with a median of 4.49, 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. ACEL has a P/S ratio of 0.8. This compares to its industry's average P/S of 1.28.

Finally, we should also recognize that ACEL has a P/CF ratio of 9.13. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. This stock's P/CF looks attractive against its industry's average P/CF of 28.44. Within the past 12 months, ACEL's P/CF has been as high as 9.76 and as low as 7.45, with a median of 8.66.

These are just a handful of the figures considered in Accel Entertainment'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 ACEL is an impressive value stock right now.

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