Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore 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 rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

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.

H&R Block (HRB) is a stock many investors are watching right now. HRB is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock is trading with a P/E ratio of 11.43, which compares to its industry's average of 12.25. Over the last 12 months, HRB's Forward P/E has been as high as 13.96 and as low as 10.06, with a median of 10.99.

Investors will also notice that HRB has a PEG ratio of 0.91. 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. HRB's PEG compares to its industry's average PEG of 1. Over the last 12 months, HRB's PEG has been as high as 1.12 and as low as 0.81, with a median of 0.88.

Finally, we should also recognize that HRB has a P/CF ratio of 11.68. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. HRB's current P/CF looks attractive when compared to its industry's average P/CF of 17.97. Over the past 52 weeks, HRB's P/CF has been as high as 13.17 and as low as 8.59, with a median of 9.89.

These are just a handful of the figures considered in H&R Block's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that HRB is an impressive value stock right now.

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