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.

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 tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

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.

Steelcase (SCS Quick QuoteSCS - Free Report) is a stock many investors are watching right now. SCS is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A.

Another valuation metric that we should highlight is SCS's P/B ratio of 1.49. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This company's current P/B looks solid when compared to its industry's average P/B of 2. Over the past 12 months, SCS's P/B has been as high as 1.89 and as low as 1.39, with a median of 1.66.

Finally, our model also underscores that SCS has a P/CF ratio of 6.97. 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 company's current P/CF looks solid when compared to its industry's average P/CF of 8.79. Within the past 12 months, SCS's P/CF has been as high as 10.46 and as low as 6.97, with a median of 9.28.

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