The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.

Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

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 company value investors might notice is Meritage Hospitality Group (MHGU Quick QuoteMHGU - Free Report) . MHGU is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock holds a P/E ratio of 18.25, while its industry has an average P/E of 23.22. Over the past year, MHGU's Forward P/E has been as high as 19.79 and as low as 13.20, with a median of 14.50.

Finally, we should also recognize that MHGU has a P/CF ratio of 4.77. 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. This stock's P/CF looks attractive against its industry's average P/CF of 17.32. Over the past 52 weeks, MHGU's P/CF has been as high as 8.23 and as low as 4.74, with a median of 5.80.

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