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, 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 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.

One company to watch right now is Acerinox (ANIOY Quick QuoteANIOY - Free Report) . ANIOY is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock holds a P/E ratio of 9.40, while its industry has an average P/E of 10.96. Over the past 52 weeks, ANIOY's Forward P/E has been as high as 10.71 and as low as 7.03, with a median of 8.53.

Investors should also recognize that ANIOY has a P/B ratio of 1.09. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. ANIOY's current P/B looks attractive when compared to its industry's average P/B of 1.69. ANIOY's P/B has been as high as 1.14 and as low as 0.82, with a median of 0.92, over the past year.

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