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.

Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

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 The Interpublic Group of Companies (IPG Quick QuoteIPG - Free Report) . IPG is currently sporting a Zacks Rank of #2 (Buy) and an A for Value.

Investors should also recognize that IPG has a P/B ratio of 3.45. 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. This stock's P/B looks solid versus its industry's average P/B of 9.20. Within the past 52 weeks, IPG's P/B has been as high as 4.92 and as low as 3.29, with a median of 4.21.

Finally, we should also recognize that IPG has a P/CF ratio of 9.05. 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 11.18. Over the past 52 weeks, IPG's P/CF has been as high as 16.89 and as low as 8.64, with a median of 12.62.

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.