The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.

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 fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

One company to watch right now is Entravision Communications (EVC Quick QuoteEVC - Free Report) . EVC is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock holds a P/E ratio of 14.11, while its industry has an average P/E of 27.93. Over the past year, EVC's Forward P/E has been as high as 31.57 and as low as 6.88, with a median of 15.15.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by 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. EVC has a P/S ratio of 1.04. This compares to its industry's average P/S of 1.11.

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