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, value investing is easily one of the most popular ways to find great stocks in any market environment. 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 stock to keep an eye on is Assurant (AIZ Quick QuoteAIZ - Free Report) . AIZ is currently sporting a Zacks Rank #2 (Buy), as well as an A grade for Value.

Another valuation metric that we should highlight is AIZ's P/B ratio of 1.94. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 2.60. Within the past 52 weeks, AIZ's P/B has been as high as 2.25 and as low as 1.71, with a median of 1.98.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a preferred metric because revenue can't really be manipulated, so sales are often a truer performance indicator. AIZ has a P/S ratio of 0.91. This compares to its industry's average P/S of 1.11.

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