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.

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 tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

One company value investors might notice is China Automotive Systems (CAAS Quick QuoteCAAS - Free Report) . CAAS is currently holding a Zacks Rank of #1 (Strong Buy) and a Value grade of A. The stock has a Forward P/E ratio of 16.62. This compares to its industry's average Forward P/E of 22.87. Over the past 52 weeks, CAAS's Forward P/E has been as high as 19.31 and as low as 4.89, with a median of 12.01.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. CAAS has a P/S ratio of 0.41. This compares to its industry's average P/S of 0.75.

Value investors will likely look at more than just these metrics, but the above data helps show that China Automotive Systems is likely undervalued currently. And when considering the strength of its earnings outlook, CAAS sticks out at as one of the market's strongest value stocks.