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.

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. 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.

One stock to keep an eye on is Unum Group (UNM). UNM is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock is trading with a P/E ratio of 8.13, which compares to its industry's average of 12.88. Over the last 12 months, UNM's Forward P/E has been as high as 8.63 and as low as 5.71, with a median of 6.24.

Investors should also note that UNM holds a PEG ratio of 0.99. 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. UNM's industry currently sports an average PEG of 1.39. Over the past 52 weeks, UNM's PEG has been as high as 1.27 and as low as 0.72, with a median of 0.87.

Another notable valuation metric for UNM is its P/B ratio of 1.22. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. This company's current P/B looks solid when compared to its industry's average P/B of 1.94. UNM's P/B has been as high as 1.29 and as low as 0.88, with a median of 0.98, over the past year.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. This is a prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. UNM has a P/S ratio of 1.05. This compares to its industry's average P/S of 1.58.

Finally, investors will want to recognize that UNM has a P/CF ratio of 7.43. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 10.59. Over the past 52 weeks, UNM's P/CF has been as high as 7.91 and as low as 5.96, with a median of 7.07.

These figures are just a handful of the metrics value investors tend to look at, but they help show that Unum Group is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, UNM feels like a great value stock at the moment.

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