While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

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 to watch right now is Pilgrim's Pride (PPC). PPC is currently sporting a Zacks Rank of #1 (Strong Buy), as well as a Value grade of A. The stock has a Forward P/E ratio of 10.06. This compares to its industry's average Forward P/E of 13.63. PPC's Forward P/E has been as high as 13.02 and as low as 8.43, with a median of 10.04, all within the past year.

Finally, we should also recognize that PPC has a P/CF ratio of 7.95. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. PPC's current P/CF looks attractive when compared to its industry's average P/CF of 11.21. PPC's P/CF has been as high as 10.94 and as low as 7.26, with a median of 8.71, 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 Pilgrim's Pride is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, PPC feels like a great value stock at the moment.

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