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.

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.

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 stock to keep an eye on is Kaiser Aluminum (KALU Quick QuoteKALU - Free Report) . KALU is currently holding a Zacks Rank #2 (Buy) and a Value grade of A. The stock holds a P/E ratio of 13.73, while its industry has an average P/E of 21.69. KALU's Forward P/E has been as high as 26.64 and as low as 11.50, with a median of 14.12, all within the past year.

Value investors also use the P/S ratio. The P/S ratio is calculated as price divided by sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. KALU has a P/S ratio of 0.4. This compares to its industry's average P/S of 0.86.

These are only a few of the key metrics included in Kaiser Aluminum'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, KALU looks like an impressive value stock at the moment.