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.

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

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 stock to keep an eye on is Medallion Financial (MFIN Quick QuoteMFIN - Free Report) . MFIN is currently sporting a Zacks Rank of #1 (Strong Buy), as well as an A grade for Value. The stock is trading with a P/E ratio of 4.63, which compares to its industry's average of 7.18. Over the past 52 weeks, MFIN's Forward P/E has been as high as 7.31 and as low as 3.41, with a median of 5.31.

We should also highlight that MFIN has a P/B ratio of 0.42. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. This stock's P/B looks solid versus its industry's average P/B of 0.84. Over the past year, MFIN's P/B has been as high as 0.59 and as low as 0.36, with a median of 0.48.

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