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.

Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader 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 company value investors might notice is Manulife Financial Corp (MFC). MFC is currently sporting a Zacks Rank of #2 (Buy) and an A for Value.

Investors should also recognize that MFC has a P/B ratio of 1.41. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. MFC's current P/B looks attractive when compared to its industry's average P/B of 1.67. Over the past 12 months, MFC's P/B has been as high as 1.75 and as low as 1.28, with a median of 1.52.

Finally, investors should note that MFC has a P/CF ratio of 11.88. 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. MFC's P/CF compares to its industry's average P/CF of 13.51. MFC's P/CF has been as high as 14.92 and as low as 9.85, with a median of 12.78, all within the past year.

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

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This article originally published on Zacks Investment Research (zacks.com).

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