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.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of 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 company value investors might notice is NGL Energy Partners (NGL Quick QuoteNGL - Free Report) . NGL is currently sporting a Zacks Rank #2 (Buy), as well as an A grade for Value.

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. NGL has a P/S ratio of 0.32. This compares to its industry's average P/S of 0.69.

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