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 rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

One company to watch right now is ENGIE - Sponsored ADR (ENGIY Quick QuoteENGIY - Free Report) . ENGIY is currently sporting a Zacks Rank #2 (Buy), as well as a Value grade of A. The stock is trading with a P/E ratio of 9.66, which compares to its industry's average of 15.16. Over the past 52 weeks, ENGIY's Forward P/E has been as high as 11.37 and as low as 6.67, with a median of 9.61.

We should also highlight that ENGIY has a P/B ratio of 1.14. 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 attractive against its industry's average P/B of 2.50. ENGIY's P/B has been as high as 1.28 and as low as 0.86, with a median of 1.05, over the past year.

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