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.

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 value investors might notice is Ardmore Shipping (ASC Quick QuoteASC - Free Report) . ASC is currently sporting a Zacks Rank #1 (Strong Buy), as well as a Value grade of A.

Investors should also recognize that ASC has a P/B ratio of 0.71. 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 1.43. ASC's P/B has been as high as 1.43 and as low as 0.57, with a median of 0.76, over the past year.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. This is a preferred metric because revenue can't really be manipulated, so sales are often a truer performance indicator. ASC has a P/S ratio of 1.36. This compares to its industry's average P/S of 1.46.

Finally, investors will want to recognize that ASC has a P/CF ratio of 3.20. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. ASC's P/CF compares to its industry's average P/CF of 4.84. ASC's P/CF has been as high as 4.97 and as low as 2.25, with a median of 2.94, all within the past year.

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