Investors interested in stocks from the Retail - Miscellaneous sector have probably already heard of Five Below (FIVE) and Tractor Supply (TSCO). But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.

We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.

Five Below and Tractor Supply are sporting Zacks Ranks of #2 (Buy) and #3 (Hold), respectively, right now. The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that FIVE has an improving earnings outlook. However, value investors will care about much more than just this.

Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.

Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.

FIVE currently has a forward P/E ratio of 22.05, while TSCO has a forward P/E of 28.21. We also note that FIVE has a PEG ratio of 1.02. 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. TSCO currently has a PEG ratio of 3.48.

Another notable valuation metric for FIVE is its P/B ratio of 3.66. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, TSCO has a P/B of 12.72.

These are just a few of the metrics contributing to FIVE's Value grade of B and TSCO's Value grade of C.

FIVE stands above TSCO thanks to its solid earnings outlook, and based on these valuation figures, we also feel that FIVE is the superior value option right now.

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