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.

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 rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

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 D.R. Horton (DHI Quick QuoteDHI - Free Report) . DHI is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock has a Forward P/E ratio of 9.71. This compares to its industry's average Forward P/E of 10.02. Over the past 52 weeks, DHI's Forward P/E has been as high as 11.57 and as low as 3.49, with a median of 9.20.

DHI is also sporting a PEG ratio of 0.63. 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. DHI's industry has an average PEG of 0.80 right now. Within the past year, DHI's PEG has been as high as 1.14 and as low as 0.42, with a median of 0.64.

These are just a handful of the figures considered in D.R. Horton's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that DHI is an impressive value stock right now.