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.

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 use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

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.

One company value investors might notice is Deutsche Lufthansa (DLAKY Quick QuoteDLAKY - Free Report) . DLAKY is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock holds a P/E ratio of 12.85, while its industry has an average P/E of 15.98. DLAKY's Forward P/E has been as high as 951.51 and as low as -284.36, with a median of 19.88, all within the past year.

Finally, investors will want to recognize that DLAKY has a P/CF ratio of 4.33. 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. DLAKY's current P/CF looks attractive when compared to its industry's average P/CF of 17.07. Within the past 12 months, DLAKY's P/CF has been as high as 82.16 and as low as -8.77, with a median of 4.60.

Investors could also keep in mind International Consolidated Airlines Group (ICAGY Quick QuoteICAGY - Free Report) , an Transportation - Airline stock with a Zacks Rank of # 2 (Buy) and Value grade of A.

International Consolidated Airlines Group sports a P/B ratio of 1.33 as well; this compares to its industry's price-to-book ratio of 3.91. In the past 52 weeks, ICAGY's P/B has been as high as 4.70, as low as 1.09, with a median of 1.50.

Value investors will likely look at more than just these metrics, but the above data helps show that Deutsche Lufthansa and International Consolidated Airlines Group are likely undervalued currently. And when considering the strength of its earnings outlook, DLAKY and ICAGY sticks out as one of the market's strongest value stocks.