The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

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 Mission Produce (AVO). AVO is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A.

Investors should also note that AVO holds a PEG ratio of 1.24. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. AVO's PEG compares to its industry's average PEG of 1.28. Over the last 12 months, AVO's PEG has been as high as 1.39 and as low as 1.22, with a median of 1.24.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by 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. AVO has a P/S ratio of 0.53. This compares to its industry's average P/S of 0.66.

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

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Mission Produce, Inc. (AVO) : Free Stock Analysis Report

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

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