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, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

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 BJ's Wholesale Club (BJ Quick QuoteBJ - Free Report) . BJ is currently sporting a Zacks Rank of #2 (Buy) and an A for Value.

BJ is also sporting a PEG ratio of 0.90. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. BJ's PEG compares to its industry's average PEG of 1.14. Within the past year, BJ's PEG has been as high as 1.91 and as low as 0.86, with a median of 1.17.

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. BJ has a P/S ratio of 0.37. This compares to its industry's average P/S of 0.99.

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