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.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

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.

One company value investors might notice is Columbus McKinnon (CMCO Quick QuoteCMCO - Free Report) . CMCO is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock holds a P/E ratio of 9.49, while its industry has an average P/E of 10.30. Over the last 12 months, CMCO's Forward P/E has been as high as 18.79 and as low as 9.49, with a median of 14.92.

Finally, investors should note that CMCO has a P/CF ratio of 11.35. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. CMCO's current P/CF looks attractive when compared to its industry's average P/CF of 13.56. CMCO's P/CF has been as high as 22.36 and as low as 11.35, with a median of 16.89, all within the past year.

These are only a few of the key metrics included in Columbus McKinnon's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, CMCO looks like an impressive value stock at the moment.