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 tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

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 sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock is trading with P/E ratio of 13.30 right now. For comparison, its industry sports an average P/E of 13.39. SND's Forward P/E has been as high as 41.69 and as low as -5,657.50, with a median of 17.13, all within the past year.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. 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 0.38. This compares to its industry's average P/S of 0.87.

Finally, investors should note that SND has a P/CF ratio of 3.94. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 8. SND's P/CF has been as high as 4.32 and as low as 1.76, with a median of 2.30, 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 Smart Sand is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, SND feels like a great value stock at the moment.

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