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 tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

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.

Community Health Systems (CYH Quick QuoteCYH - Free Report) is a stock many investors are watching right now. CYH is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value.

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