Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

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.

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 company value investors might notice is North American Construction Group (NOA Quick QuoteNOA - Free Report) . NOA is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value.

Investors should also recognize that NOA has a P/B ratio of 1.98. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. NOA's current P/B looks attractive when compared to its industry's average P/B of 3.62. Over the past year, NOA's P/B has been as high as 2.70 and as low as 1.96, with a median of 2.20.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. NOA has a P/S ratio of 0.71. This compares to its industry's average P/S of 0.72.

These are only a few of the key metrics included in North American Construction Group's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, NOA looks like an impressive value stock at the moment.