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Jarden Corporation (JAH) reported record fourth quarter sales and earnings but the good times aren't over yet. This Zacks #1 Rank (Strong Buy) is expected to grow earnings by the double digits again in 2012. It also has the distinction of being a value stock, with a forward P/E of just 9.7.

Jarden manufactures niche consumer products in three main business segments: Branded Consumables, Consumer Solutions, and Outdoor Solutions.

Some of the company's famous brands include Rawlings, Crock-Pot, Mr. Coffee, Seal-a-Meal, and First Alert.

Record Fourth Quarter Results

On Feb 15, Jarden reported record fourth quarter results. The company blew by the Zacks Consensus Estimate, again. Earnings per share were 96 cents compared to the consensus of 92 cents.

It kept intact an impressive earnings surprise streak. The company has only missed one time in the last 5 years and that was all the way back in 2007.

Sales rose 3% to a record $1.74 billion from $1.68 billion a year ago. For the year, sales jumped 11% to $6.7 billion from $6 billion in 2010.

"Coming out of the recession, Jarden has achieved organic net sales growth of over 3% on a trailing twelve month basis for six consecutive quarters in an extremely difficult economic and unpredictable weather environment," said James E. Lillie, CEO.

The 2012 Zacks Consensus Estimate Jumps

Jarden is hoping to build on its momentum in 2012. The analysts clearly believe it can do so as the 2012 Zacks Consensus Estimate rose to $4.07 from $3.77 in just the last week.

That is further earnings growth in 2012 of 18.5%.

A Cheap Stock

Jarden shares have rallied along with the overall markets. Shares are at 2-year highs.

Yet, there's still plenty of value to be found.

In addition to a P/E under 10, the company has a price-to-book ratio of just 1.9. A P/B ratio under 3.0 usually indicates value.

Jarden also has a low price-to-sales ratio of just 0.5. A P/S ratio under 1.0 can mean a company is undervalued. By comparison, the average P/S ratio for the S&P 500 is 1.9.

Jarden has other solid fundamentals as well, including a return on equity (ROE) of 16%.

The company rewards shareholders with a dividend currently yielding 0.9%.

Jarden is capitalizing on its well-known brands and the global recovery to grow its earnings by the double digits. Investors get both growth and value with this company.

Tracey Ryniec is the Value Stock Strategist for She is also the Editor of the Turnaround Trader and Insider Trader services. You can follow her on twitter at @TraceyRyniec.

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