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.

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 Euroseas (ESEA). ESEA is currently holding a Zacks Rank of #1 (Strong Buy) and a Value grade of A. The stock is trading with P/E ratio of 2.28 right now. For comparison, its industry sports an average P/E of 5.65. Over the past year, ESEA's Forward P/E has been as high as 5.39 and as low as 2.20, with a median of 3.45.

Finally, our model also underscores that ESEA has a P/CF ratio of 1.79. 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. ESEA's current P/CF looks attractive when compared to its industry's average P/CF of 5.74. Within the past 12 months, ESEA's P/CF has been as high as 2.64 and as low as 1.71, with a median of 2.08.

Investors could also keep in mind Global Ship Lease (GSL), an Transportation - Shipping stock with a Zacks Rank of # 1 (Strong Buy) and Value grade of A.

Global Ship Lease sports a P/B ratio of 0.58 as well; this compares to its industry's price-to-book ratio of 2.64. In the past 52 weeks, GSL's P/B has been as high as 0.84, as low as 0.56, with a median of 0.64.

These are just a handful of the figures considered in Euroseas and Global Ship Lease'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 ESEA and GSL is an impressive value stock right now.

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Euroseas Ltd. (ESEA) : Free Stock Analysis Report

Global Ship Lease, Inc. (GSL) : Free Stock Analysis Report

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