The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.

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.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

One stock to keep an eye on is Lowe's (LOW Quick QuoteLOW - Free Report) . LOW is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock holds a P/E ratio of 19.76, while its industry has an average P/E of 22.20. Over the past year, LOW's Forward P/E has been as high as 21.38 and as low as 9.70, with a median of 17.80.

We also note that LOW holds a PEG ratio of 1.23. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. LOW's PEG compares to its industry's average PEG of 1.77. Within the past year, LOW's PEG has been as high as 1.52 and as low as 0.68, with a median of 1.26.

These are only a few of the key metrics included in Lowe's's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, LOW looks like an impressive value stock at the moment.