Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

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 company to watch right now is Phibro Animal Health (PAHC). PAHC is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock holds a P/E ratio of 12.16, while its industry has an average P/E of 21.98. Over the last 12 months, PAHC's Forward P/E has been as high as 15.21 and as low as 9.30, with a median of 12.54.

Another valuation metric that we should highlight is PAHC's P/B ratio of 3.41. Investors use the P/B ratio to look at a stock's market value versus 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 8.09. Over the past 12 months, PAHC's P/B has been as high as 4 and as low as 1.59, with a median of 2.78.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. PAHC has a P/S ratio of 0.85. This compares to its industry's average P/S of 1.58.

Finally, our model also underscores that PAHC has a P/CF ratio of 16.10. 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. PAHC's current P/CF looks attractive when compared to its industry's average P/CF of 39.16. Over the past 52 weeks, PAHC's P/CF has been as high as 22.96 and as low as 8.51, with a median of 15.64.

These are just a handful of the figures considered in Phibro Animal Health'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 PAHC is an impressive value stock right now.

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