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.

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 company value investors might notice is United Airlines (UAL). UAL is currently sporting a Zacks Rank of #1 (Strong Buy) and an A for Value. The stock is trading with P/E ratio of 8.26 right now. For comparison, its industry sports an average P/E of 17.04. Over the past year, UAL's Forward P/E has been as high as 9.45 and as low as 3.63, with a median of 4.90.

Investors will also notice that UAL has a PEG ratio of 0.75. 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. UAL's PEG compares to its industry's average PEG of 0.87. UAL's PEG has been as high as 1.13 and as low as 0.09, with a median of 0.62, all within the past year.

Investors should also recognize that UAL has a P/B ratio of 2.77. 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. This stock's P/B looks attractive against its industry's average P/B of 5.23. Over the past 12 months, UAL's P/B has been as high as 2.95 and as low as 1.18, with a median of 1.72.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. UAL has a P/S ratio of 0.61. This compares to its industry's average P/S of 0.62.

Value investors will likely look at more than just these metrics, but the above data helps show that United Airlines is likely undervalued currently. And when considering the strength of its earnings outlook, UAL sticks out at as one of the market's strongest value stocks.

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United Airlines Holdings Inc (UAL) : Free Stock Analysis Report

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