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.

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 a variety of methods, including tried-and-true valuation metrics, to find these stocks.

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 DaVita (DVA). DVA is currently sporting a Zacks Rank of #1 (Strong Buy) and an A for Value. The stock has a Forward P/E ratio of 14.52. This compares to its industry's average Forward P/E of 20.35. Over the last 12 months, DVA's Forward P/E has been as high as 15.41 and as low as 12.18, with a median of 14.05.

DVA is also sporting a PEG ratio of 0.80. 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. DVA's industry has an average PEG of 2.12 right now. Over the past 52 weeks, DVA's PEG has been as high as 1.26 and as low as 0.71, with a median of 0.85.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. DVA has a P/S ratio of 1.08. This compares to its industry's average P/S of 1.39.

Finally, we should also recognize that DVA has a P/CF ratio of 8.99. 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. DVA's P/CF compares to its industry's average P/CF of 25.02. Within the past 12 months, DVA's P/CF has been as high as 9.16 and as low as 6.71, with a median of 8.20.

These are just a handful of the figures considered in DaVita'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 DVA is an impressive value stock right now.

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

DaVita Inc. (DVA) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research