Investors interested in Transportation - Equipment and Leasing stocks are likely familiar with Triton International and Westinghouse Air Brake Technologies (WAB Quick QuoteWAB - Free Report) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.

We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.

Both Triton International and Westinghouse Air Brake Technologies have a Zacks Rank of # 2 (Buy) right now. Investors should feel comfortable knowing that both of these stocks have an improving earnings outlook since the Zacks Rank favors companies that have witnessed positive analyst estimate revisions. But this is just one factor that value investors are interested in.

Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.

The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.

TRTN currently has a forward P/E ratio of 7.64, while WAB has a forward P/E of 26.97. We also note that TRTN has a PEG ratio of 0.76. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. WAB currently has a PEG ratio of 2.35.

Another notable valuation metric for TRTN is its P/B ratio of 1.15. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, WAB has a P/B of 3.52.

These are just a few of the metrics contributing to TRTN's Value grade of A and WAB's Value grade of D.

Both TRTN and WAB are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that TRTN is the superior value option right now.