Investors looking for stocks in the Textile - Apparel sector might want to consider either Ralph Lauren (RL Quick QuoteRL - Free Report) or LVMH-Moet Hennessy Louis Vuitton SA (LVMUY Quick QuoteLVMUY - Free Report) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.

The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.

Both Ralph Lauren and LVMH-Moet Hennessy Louis Vuitton SA have a Zacks Rank of # 1 (Strong Buy) right now. This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that these stocks have improving earnings outlooks. But this is just one factor that value investors are interested in.

Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.

The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.

RL currently has a forward P/E ratio of 14.59, while LVMUY has a forward P/E of 24.31. We also note that RL has a PEG ratio of 1.57. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. LVMUY currently has a PEG ratio of 1.73.

Another notable valuation metric for RL is its P/B ratio of 3.17. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, LVMUY has a P/B of 7.47.

Based on these metrics and many more, RL holds a Value grade of B, while LVMUY has a Value grade of F.

Both RL and LVMUY are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that RL is the superior value option right now.