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.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

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 value investors might notice is Global Ship Lease (GSL Quick QuoteGSL - Free Report) . GSL is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A.

We should also highlight that GSL has a P/B ratio of 0.42. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. GSL's current P/B looks attractive when compared to its industry's average P/B of 0.44. Over the past year, GSL's P/B has been as high as 0.46 and as low as 0.12, with a median of 0.23.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. This is a prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. GSL has a P/S ratio of 0.66. This compares to its industry's average P/S of 0.78.

These are only a few of the key metrics included in Global Ship Lease's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, GSL looks like an impressive value stock at the moment.