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.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of 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.

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 China Automotive Systems (CAAS Quick QuoteCAAS - Free Report) . CAAS is currently sporting a Zacks Rank of #1 (Strong Buy) and an A for Value. The stock is trading with a P/E ratio of 9.41, which compares to its industry's average of 20.69. 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 12.52.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. CAAS has a P/S ratio of 0.33. This compares to its industry's average P/S of 0.78.

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