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.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. 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 stock to keep an eye on is Synnex (SNX Quick QuoteSNX - Free Report) . SNX is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock holds a P/E ratio of 9.53, while its industry has an average P/E of 24.93. Over the past year, SNX's Forward P/E has been as high as 12.75 and as low as 4.67, with a median of 9.17.

Investors will also notice that SNX has a PEG ratio of 1.02. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. SNX's PEG compares to its industry's average PEG of 2.65. Over the past 52 weeks, SNX's PEG has been as high as 1.36 and as low as 0.45, with a median of 0.90.

Value investors will likely look at more than just these metrics, but the above data helps show that Synnex is likely undervalued currently. And when considering the strength of its earnings outlook, SNX sticks out at as one of the market's strongest value stocks.