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

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

One stock to keep an eye on is Smart Sand (SND). SND is currently holding a Zacks Rank of #1 (Strong Buy) and a Value grade of A. The stock holds a P/E ratio of 8.06, while its industry has an average P/E of 11.67. Over the past year, SND's Forward P/E has been as high as 41.69 and as low as -5,657.50, with a median of 18.26.

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. SND has a P/S ratio of 0.3. This compares to its industry's average P/S of 0.81.

Finally, investors will want to recognize that SND has a P/CF ratio of 2.64. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. SND's P/CF compares to its industry's average P/CF of 7.26. Over the past 52 weeks, SND's P/CF has been as high as 2.93 and as low as 1.76, with a median of 2.25.

These are just a handful of the figures considered in Smart Sand'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 SND is an impressive value stock right now.

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