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 rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

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 WhiteHorse Finance (WHF). WHF is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock holds a P/E ratio of 7.15, while its industry has an average P/E of 9.68. WHF's Forward P/E has been as high as 8.03 and as low as 5.83, with a median of 7.17, all within the past year.

Another notable valuation metric for WHF is its P/B ratio of 0.82. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. This stock's P/B looks solid versus its industry's average P/B of 1.07. Within the past 52 weeks, WHF's P/B has been as high as 0.98 and as low as 0.75, with a median of 0.91.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. WHF has a P/S ratio of 2.53. This compares to its industry's average P/S of 3.7.

These figures are just a handful of the metrics value investors tend to look at, but they help show that WhiteHorse Finance is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, WHF feels like a great value stock at the moment.

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