Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

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 to watch right now is AGNC Investment (AGNC Quick QuoteAGNC - Free Report) . AGNC is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock is trading with a P/E ratio of 7.34, which compares to its industry's average of 8.53. AGNC's Forward P/E has been as high as 8.29 and as low as 7.07, with a median of 7.81, all within the past year.

We should also highlight that AGNC has a P/B ratio of 1.04. The P/B is a method of comparing a stock's market value to 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 1.17. Over the past year, AGNC's P/B has been as high as 1.04 and as low as 0.85, with a median of 0.94.

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