Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

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 a variety of methods, including tried-and-true valuation metrics, to find these stocks.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

One stock to keep an eye on is Tenaris (TS). TS is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock has a Forward P/E ratio of 11.24. This compares to its industry's average Forward P/E of 13.04. Over the past 52 weeks, TS's Forward P/E has been as high as 11.97 and as low as 5.90, with a median of 8.64.

Finally, we should also recognize that TS has a P/CF ratio of 6.42. 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. TS's current P/CF looks attractive when compared to its industry's average P/CF of 7.21. Over the past year, TS's P/CF has been as high as 6.44 and as low as 4.12, with a median of 4.88.

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

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