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, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

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.

Vodafone Group (VOD) is a stock many investors are watching right now. VOD is currently sporting a Zacks Rank of #2 (Buy) and an A for Value.

Investors will also notice that VOD has a PEG ratio of 0.51. 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. VOD's PEG compares to its industry's average PEG of 0.56. Within the past year, VOD's PEG has been as high as 3.36 and as low as 0.51, with a median of 0.86.

Another valuation metric that we should highlight is VOD's P/B ratio of 0.35. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This stock's P/B looks solid versus its industry's average P/B of 0.80. VOD's P/B has been as high as 0.42 and as low as 0.33, with a median of 0.36, over the past year.

These are only a few of the key metrics included in Vodafone Group's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, VOD looks like an impressive value stock at the moment.

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Vodafone Group PLC (VOD) : Free Stock Analysis Report

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