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.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

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.

Fox Factory Holdings (FOXF Quick QuoteFOXF - Free Report) is a stock many investors are watching right now. FOXF is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A.

Investors should also note that FOXF holds a PEG ratio of 1.38. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. FOXF's PEG compares to its industry's average PEG of 4.10. Over the last 12 months, FOXF's PEG has been as high as 3.32 and as low as 1.32, with a median of 1.66.

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. FOXF has a P/S ratio of 0.7. This compares to its industry's average P/S of 0.75.

Finally, our model also underscores that FOXF has a P/CF ratio of 9.05. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. This stock's P/CF looks attractive against its industry's average P/CF of 27.71. Within the past 12 months, FOXF's P/CF has been as high as 18.16 and as low as 7.79, with a median of 12.67.

Value investors will likely look at more than just these metrics, but the above data helps show that Fox Factory Holdings is likely undervalued currently. And when considering the strength of its earnings outlook, FOXF sticks out at as one of the market's strongest value stocks.