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.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

One company value investors might notice is Turtle Beach (TBCH Quick QuoteTBCH - Free Report) . TBCH is currently sporting a Zacks Rank #2 (Buy), as well as a Value grade of A. The stock is trading with P/E ratio of 14.42 right now. For comparison, its industry sports an average P/E of 17.53. Over the last 12 months, TBCH's Forward P/E has been as high as 18.58 and as low as 5.11, with a median of 10.88.

Another notable valuation metric for TBCH is its P/B ratio of 2.39. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. This company's current P/B looks solid when compared to its industry's average P/B of 2.39. Over the past 12 months, TBCH's P/B has been as high as 3.78 and as low as 1.55, with a median of 2.87.

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