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.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

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.

Dana (DAN) is a stock many investors are watching right now. DAN is currently sporting a Zacks Rank of #1 (Strong Buy), as well as an A grade for Value. The stock has a Forward P/E ratio of 12.21. This compares to its industry's average Forward P/E of 20.50. Over the past 52 weeks, DAN's Forward P/E has been as high as 13.55 and as low as 5.44, with a median of 9.20.

Investors should also note that DAN holds a PEG ratio of 0.83. 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. DAN's industry currently sports an average PEG of 1.60. DAN's PEG has been as high as 0.87 and as low as 0.26, with a median of 0.33, all within the past year.

Another valuation metric that we should highlight is DAN's P/B ratio of 1.52. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. DAN's current P/B looks attractive when compared to its industry's average P/B of 3.51. Over the past 12 months, DAN's P/B has been as high as 1.52 and as low as 0.72, with a median of 1.10.

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 popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. DAN has a P/S ratio of 0.23. This compares to its industry's average P/S of 0.61.

If you're looking for another solid Automotive - Original Equipment value stock, take a look at The Shyft Group (SHYF). SHYF is a # 2 (Buy) stock with a Value score of A.

The Shyft Group also has a P/B ratio of 1.64 compared to its industry's price-to-book ratio of 3.51. Over the past year, its P/B ratio has been as high as 2.32, as low as 1.37, with a median of 1.69.

These are just a handful of the figures considered in Dana and The Shyft Group'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 DAN and SHYF is an impressive value stock right now.

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