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.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of 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 to watch right now is International Consolidated Airlines Group (ICAGY Quick QuoteICAGY - Free Report) . ICAGY is currently sporting a Zacks Rank of #1 (Strong Buy) and an A for Value. The stock holds a P/E ratio of 6.71, while its industry has an average P/E of 8.73. Over the past year, ICAGY's Forward P/E has been as high as 26.44 and as low as 6.48, with a median of 10.61.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. ICAGY has a P/S ratio of 0.17. This compares to its industry's average P/S of 0.44.

Another great Transportation - Airline stock you could consider is Controladora Vuela Compania de Aviacion, B. de C.V (VLRS Quick QuoteVLRS - Free Report) , which is a # 2 (Buy) stock with a Value Score of A.

Controladora Vuela Compania de Aviacion, B. de C.V is trading at a forward earnings multiple of 8.65 at the moment, with a PEG ratio of 0.42. This compares to its industry's average P/E of 8.73 and average PEG ratio of 0.28.