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 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 to watch right now is TTM Technologies (TTMI). TTMI 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 12.45. This compares to its industry's average Forward P/E of 20.27. Over the last 12 months, TTMI's Forward P/E has been as high as 13.69 and as low as 9.06, with a median of 10.30.

Another valuation metric that we should highlight is TTMI's P/B ratio of 1.49. Investors use the P/B ratio to look at a stock's market value versus 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 3.47. Over the past year, TTMI's P/B has been as high as 1.49 and as low as 0.94, with a median of 1.13.

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. TTMI has a P/S ratio of 0.99. This compares to its industry's average P/S of 1.42.

Finally, we should also recognize that TTMI has a P/CF ratio of 10.47. 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. TTMI's P/CF compares to its industry's average P/CF of 12.43. Over the past year, TTMI's P/CF has been as high as 14.12 and as low as 8.22, with a median of 10.75.

These are only a few of the key metrics included in TTM Technologies's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, TTMI looks like an impressive value stock at the moment.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

TTM Technologies, Inc. (TTMI) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research