Investors interested in Consumer Products - Staples stocks are likely familiar with Ollie's Bargain Outlet (OLLI Quick QuoteOLLI - Free Report) and Kimberly-Clark (KMB Quick QuoteKMB - Free Report) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.

Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. 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 Ollie's Bargain Outlet and Kimberly-Clark have a Zacks Rank of # 2 (Buy) right now. Investors should feel comfortable knowing that both of these stocks have an improving earnings outlook since the Zacks Rank favors companies that have witnessed positive analyst estimate revisions. But this is just one factor that value investors are interested in.

Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.

The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.

OLLI currently has a forward P/E ratio of 22.66, while KMB has a forward P/E of 22.68. We also note that OLLI has a PEG ratio of 1.04. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. KMB currently has a PEG ratio of 2.30.

Another notable valuation metric for OLLI is its P/B ratio of 2.65. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, KMB has a P/B of 64.71.

These are just a few of the metrics contributing to OLLI's Value grade of B and KMB's Value grade of C.

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