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 fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

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 stock to keep an eye on is HeidelbergCement (HDELY Quick QuoteHDELY - Free Report) . HDELY is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock is trading with a P/E ratio of 7.76, which compares to its industry's average of 20.64. HDELY's Forward P/E has been as high as 8.51 and as low as 4.68, with a median of 7.08, all within the past year.

HDELY is also sporting a PEG ratio of 0.80. 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. HDELY's industry has an average PEG of 1.55 right now. HDELY's PEG has been as high as 2.86 and as low as 0.59, with a median of 1.41, all within the past year.

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