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.

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 tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.

One stock to keep an eye on is ABM Industries (ABM). ABM is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock holds a P/E ratio of 13.99, while its industry has an average P/E of 34.34. ABM's Forward P/E has been as high as 15.99 and as low as 11.73, with a median of 13.93, all within the past year.

We also note that ABM holds a PEG ratio of 2.71. 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. ABM's PEG compares to its industry's average PEG of 5.53. Over the last 12 months, ABM's PEG has been as high as 2.96 and as low as 2.58, with a median of 2.64.

Finally, we should also recognize that ABM has a P/CF ratio of 17.79. 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. ABM's current P/CF looks attractive when compared to its industry's average P/CF of 39.86. Within the past 12 months, ABM's P/CF has been as high as 19.64 and as low as 6.79, with a median of 9.43.

These are only a few of the key metrics included in ABM Industries'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, ABM looks like an impressive value stock at the moment.

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