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.

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 fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

Mission Produce (AVO) is a stock many investors are watching right now. AVO is currently sporting a Zacks Rank of #1 (Strong Buy), as well as an A grade for Value.

Investors will also notice that AVO has a PEG ratio of 1.24. 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. AVO's PEG compares to its industry's average PEG of 1.36. Within the past year, AVO's PEG has been as high as 1.54 and as low as 1.22, with a median of 1.37.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. AVO has a P/S ratio of 0.65. This compares to its industry's average P/S of 0.71.

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

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