While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

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 stock to keep an eye on is Sprouts Farmers Market (SFM Quick QuoteSFM - Free Report) . SFM is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock holds a P/E ratio of 12.92, while its industry has an average P/E of 13.59. SFM's Forward P/E has been as high as 15.37 and as low as 10.38, with a median of 12.68, all within the past year.

Finally, investors will want to recognize that SFM has a P/CF ratio of 6.64. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. SFM's current P/CF looks attractive when compared to its industry's average P/CF of 9.05. Over the past 52 weeks, SFM's P/CF has been as high as 7.99 and as low as 4.90, with a median of 6.21.

These are just a handful of the figures considered in Sprouts Farmers Market's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that SFM is an impressive value stock right now.