The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find 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 rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

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 Cracker Barrel Old Country Store (CBRL Quick QuoteCBRL - Free Report) . CBRL is currently sporting a Zacks Rank #1 (Strong Buy), as well as a Value grade of A. The stock holds a P/E ratio of 15.33, while its industry has an average P/E of 25.90. CBRL's Forward P/E has been as high as 22.15 and as low as 10.90, with a median of 14.62, all within the past year.

Value investors also use the P/S ratio. The P/S ratio is calculated as price divided by sales. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. CBRL has a P/S ratio of 0.36. This compares to its industry's average P/S of 0.81.

These are only a few of the key metrics included in Cracker Barrel Old Country Store's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, CBRL looks like an impressive value stock at the moment.