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.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

One company to watch right now is Sturm, Ruger & Company (RGR Quick QuoteRGR - Free Report) . RGR is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock is trading with a P/E ratio of 11.83, which compares to its industry's average of 17.04. RGR's Forward P/E has been as high as 15 and as low as 8.14, with a median of 12.55, all within the past year.

Another valuation metric that we should highlight is RGR's P/B ratio of 3.08. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. RGR's current P/B looks attractive when compared to its industry's average P/B of 6.81. Over the past year, RGR's P/B has been as high as 5.30 and as low as 2.94, with a median of 3.58.

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