While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. 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 to watch right now is Sun Country Airlines (SNCY Quick QuoteSNCY - Free Report) . SNCY is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock has a Forward P/E ratio of 8.78. This compares to its industry's average Forward P/E of 17.06. Over the last 12 months, SNCY's Forward P/E has been as high as 12.09 and as low as 5.81, with a median of 7.72.

We also note that SNCY holds a PEG ratio of 0.39. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. SNCY's PEG compares to its industry's average PEG of 1.03. Within the past year, SNCY's PEG has been as high as 0.45 and as low as 0.26, with a median of 0.35.

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