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.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

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 stock to keep an eye on is ABM Industries (ABM Quick QuoteABM - Free Report) . ABM is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock is trading with a P/E ratio of 12.02, which compares to its industry's average of 29.75. ABM's Forward P/E has been as high as 61.52 and as low as 11.14, with a median of 13.80, all within the past year.

Finally, we should also recognize that ABM has a P/CF ratio of 14.08. 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. This company's current P/CF looks solid when compared to its industry's average P/CF of 34.92. Over the past 52 weeks, ABM's P/CF has been as high as 15.96 and as low as 6.15, with a median of 10.88.

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