Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore 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.

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 company to watch right now is Hollysys Automation (HOLI Quick QuoteHOLI - Free Report) . HOLI is currently sporting a Zacks Rank of #1 (Strong Buy), as well as an A grade for Value. The stock has a Forward P/E ratio of 6.56. This compares to its industry's average Forward P/E of 16. HOLI's Forward P/E has been as high as 10.34 and as low as 6.50, with a median of 8.81, all within the past year.

Finally, we should also recognize that HOLI has a P/CF ratio of 6.81. 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. HOLI's P/CF compares to its industry's average P/CF of 12.06. Over the past year, HOLI's P/CF has been as high as 12.29 and as low as 6.73, with a median of 9.43.

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