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.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

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 Deutsche Lufthansa (DLAKY Quick QuoteDLAKY - Free Report) . DLAKY is currently sporting a Zacks Rank #2 (Buy) and an A for Value. The stock holds a P/E ratio of 6.41, while its industry has an average P/E of 11.25. Over the past year, DLAKY's Forward P/E has been as high as 7.66 and as low as 4.63, with a median of 6.10.

Value investors also use the P/S ratio. The P/S ratio is calculated as price divided by sales. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. DLAKY has a P/S ratio of 0.24. This compares to its industry's average P/S of 0.59.

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