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 use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

One company to watch right now is Mission Produce (AVO Quick QuoteAVO - Free Report) . AVO is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A.

We also note that AVO holds a PEG ratio of 1.24. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. AVO's industry has an average PEG of 1.41 right now.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. AVO has a P/S ratio of 0.57. This compares to its industry's average P/S of 0.77.

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