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.

Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

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 Old Republic International (ORI Quick QuoteORI - Free Report) . ORI is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A.

Investors should also recognize that ORI has a P/B ratio of 0.79. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. ORI's current P/B looks attractive when compared to its industry's average P/B of 1.02. Over the past year, ORI's P/B has been as high as 1.26 and as low as 0.62, with a median of 1.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. ORI has a P/S ratio of 0.72. This compares to its industry's average P/S of 0.8.

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