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.

Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader 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.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

One stock to keep an eye on is LY CORPORATION (YAHOY Quick QuoteYAHOY - Free Report) . YAHOY is currently holding a Zacks Rank #2 (Buy) and a Value grade of A. The stock has a Forward P/E ratio of 19.69. This compares to its industry's average Forward P/E of 24.39. Over the past year, YAHOY's Forward P/E has been as high as 25.44 and as low as 18.11, with a median of 21.10.

Finally, our model also underscores that YAHOY has a P/CF ratio of 12.79. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. YAHOY's current P/CF looks attractive when compared to its industry's average P/CF of 14.38. Over the past 52 weeks, YAHOY's P/CF has been as high as 14.55 and as low as 8.98, with a median of 11.69.

These are only a few of the key metrics included in LY CORPORATION'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, YAHOY looks like an impressive value stock at the moment.