Investors with an interest in Food - Miscellaneous stocks have likely encountered both BRF (BRFS) and Conagra Brands (CAG). But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.

We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.

Right now, BRF is sporting a Zacks Rank of #2 (Buy), while Conagra Brands has a Zacks Rank of #5 (Strong Sell). This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that BRFS is likely seeing its earnings outlook improve to a greater extent. However, value investors will care about much more than just this.

Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.

Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.

BRFS currently has a forward P/E ratio of 7.30, while CAG has a forward P/E of 10.70. We also note that BRFS has a PEG ratio of 0.18. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. CAG currently has a PEG ratio of 1.78.

Another notable valuation metric for BRFS is its P/B ratio of 1.07. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, CAG has a P/B of 1.39.

These are just a few of the metrics contributing to BRFS's Value grade of A and CAG's Value grade of C.

BRFS sticks out from CAG in both our Zacks Rank and Style Scores models, so value investors will likely feel that BRFS is the better option right now.

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BRF S.A. (BRFS) : Free Stock Analysis Report

Conagra Brands (CAG) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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