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.

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

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.

The Interpublic Group of Companies (IPG Quick QuoteIPG - Free Report) is a stock many investors are watching right now. IPG is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A.

Another notable valuation metric for IPG is its P/B ratio of 3.64. 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 5. Over the past 12 months, IPG's P/B has been as high as 4.92 and as low as 3.43, with a median of 4.33.

Finally, we should also recognize that IPG has a P/CF ratio of 9.55. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. IPG's current P/CF looks attractive when compared to its industry's average P/CF of 11.72. Over the past year, IPG's P/CF has been as high as 16.89 and as low as 9.01, with a median of 12.91.

These are only a few of the key metrics included in The Interpublic Group of Companies'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, IPG looks like an impressive value stock at the moment.