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.

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.

One company value investors might notice is Interpublic Group (IPG Quick QuoteIPG - Free Report) . IPG is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A.

Another notable valuation metric for IPG is its P/B ratio of 4.57. 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. This stock's P/B looks solid versus its industry's average P/B of 5.98. Within the past 52 weeks, IPG's P/B has been as high as 4.92 and as low as 2.52, with a median of 4.04.

Finally, we should also recognize that IPG has a P/CF ratio of 13.45. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. IPG's current P/CF looks attractive when compared to its industry's average P/CF of 26.41. Over the past year, IPG's P/CF has been as high as 16.89 and as low as 7.48, with a median of 13.58.

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