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.

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 to watch right now is Frontdoor (FTDR). FTDR is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock is trading with a P/E ratio of 16.87, which compares to its industry's average of 18.08. Over the last 12 months, FTDR's Forward P/E has been as high as 18.14 and as low as 12.18, with a median of 14.23.

Finally, investors will want to recognize that FTDR has a P/CF ratio of 15.69. 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. FTDR's P/CF compares to its industry's average P/CF of 22.32. FTDR's P/CF has been as high as 15.77 and as low as 10.63, with a median of 12.69, all within the past year.

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

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