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, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

One stock to keep an eye on is Six Flags Entertainment (SIX Quick QuoteSIX - Free Report) . SIX is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock is trading with P/E ratio of 12.92 right now. For comparison, its industry sports an average P/E of 18.46. Over the past year, SIX's Forward P/E has been as high as 25.08 and as low as 9.47, with a median of 11.94.

Finally, investors should note that SIX has a P/CF ratio of 10.66. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. SIX's current P/CF looks attractive when compared to its industry's average P/CF of 20.54. SIX's P/CF has been as high as 10.85 and as low as 7.70, with a median of 9.73, all within the past year.

These are just a handful of the figures considered in Six Flags Entertainment'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 SIX is an impressive value stock right now.