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.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

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

Investors should also recognize that ORI has a P/B ratio of 0.94. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This company's current P/B looks solid when compared to its industry's average P/B of 1.02. Within the past 52 weeks, ORI's P/B has been as high as 1.19 and as low as 0.62, with a median of 0.90.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. 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 0.89. This compares to its industry's average P/S of 0.94.

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.