Investors with an interest in Electronics - Miscellaneous Products stocks have likely encountered both Flex (FLEX) and Rockwell Automation (ROK). But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.

The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.

Flex has a Zacks Rank of #2 (Buy), while Rockwell Automation has a Zacks Rank of #3 (Hold) right now. The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that FLEX has an improving earnings outlook. But this is just one piece of the puzzle for value investors.

Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.

The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.

FLEX currently has a forward P/E ratio of 14.50, while ROK has a forward P/E of 30.77. We also note that FLEX has a PEG ratio of 1.97. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ROK currently has a PEG ratio of 3.35.

Another notable valuation metric for FLEX is its P/B ratio of 2.91. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, ROK has a P/B of 9.13.

These are just a few of the metrics contributing to FLEX's Value grade of A and ROK's Value grade of D.

FLEX has seen stronger estimate revision activity and sports more attractive valuation metrics than ROK, so it seems like value investors will conclude that FLEX is the superior option right now.

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Flex Ltd. (FLEX) : Free Stock Analysis Report

Rockwell Automation, Inc. (ROK) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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