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 use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

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 Mitie Group (MITFY Quick QuoteMITFY - Free Report) . MITFY is currently sporting a Zacks Rank #2 (Buy), as well as a Value grade of A. The stock holds a P/E ratio of 10.37, while its industry has an average P/E of 27.77. Over the past 52 weeks, MITFY's Forward P/E has been as high as 12.17 and as low as 7.96, with a median of 9.67.

Investors should also recognize that MITFY has a P/B ratio of 4.41. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. This stock's P/B looks solid versus its industry's average P/B of 5.12. Within the past 52 weeks, MITFY's P/B has been as high as 4.90 and as low as 3.04, with a median of 3.50.

These figures are just a handful of the metrics value investors tend to look at, but they help show that Mitie Group is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, MITFY feels like a great value stock at the moment.