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.

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 use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

Interpublic Group (IPG Quick QuoteIPG - Free Report) is a stock many investors are watching right now. IPG is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock is trading with P/E ratio of 10.56 right now. For comparison, its industry sports an average P/E of 12.12. Over the past year, IPG's Forward P/E has been as high as 13.55 and as low as 6.07, with a median of 11.21.

Finally, investors will want to recognize that IPG has a P/CF ratio of 8.75. 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. IPG's P/CF compares to its industry's average P/CF of 16.10. Over the past year, IPG's P/CF has been as high as 9.63 and as low as 4.81, with a median of 8.39.

These are just a handful of the figures considered in Interpublic 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 IPG is an impressive value stock right now.