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.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

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 value investors might notice is Quanex Building Products (NX Quick QuoteNX - Free Report) . NX is currently sporting a Zacks Rank #1 (Strong Buy), as well as an A grade for Value. The stock holds a P/E ratio of 6.96, while its industry has an average P/E of 15.67. Over the past 52 weeks, NX's Forward P/E has been as high as 12.99 and as low as 5.76, with a median of 9.77.

We also note that NX holds a PEG ratio of 0.50. 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. NX's industry has an average PEG of 1.38 right now. Within the past year, NX's PEG has been as high as 0.93 and as low as 0.41, with a median of 0.70.

Value investors also use the P/S ratio. The P/S ratio is calculated as price divided by sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. NX has a P/S ratio of 0.57. This compares to its industry's average P/S of 1.52.

Finally, our model also underscores that NX has a P/CF ratio of 8.92. 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 company's current P/CF looks solid when compared to its industry's average P/CF of 12.80. Over the past 52 weeks, NX's P/CF has been as high as 15.86 and as low as 6.94, with a median of 8.86.

These are just a handful of the figures considered in Quanex Building Products's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that NX is an impressive value stock right now.