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.

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 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 stock to keep an eye on is Cabot (CBT). CBT is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock has a Forward P/E ratio of 14.13. This compares to its industry's average Forward P/E of 16.90. Over the past 52 weeks, CBT's Forward P/E has been as high as 15.68 and as low as 10.32, with a median of 12.74.

Investors will also notice that CBT has a PEG ratio of 0.93. 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. CBT's industry currently sports an average PEG of 1.17. Over the past 52 weeks, CBT's PEG has been as high as 2.61 and as low as 0.79, with a median of 0.93.

Finally, our model also underscores that CBT has a P/CF ratio of 9.82. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. This stock's P/CF looks attractive against its industry's average P/CF of 11.45. Over the past 52 weeks, CBT's P/CF has been as high as 9.91 and as low as 6.25, with a median of 8.45.

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

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