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, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. 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 Janus Henderson Group (JHG Quick QuoteJHG - Free Report) . JHG is currently sporting a Zacks Rank #2 (Buy), as well as a Value grade of A. The stock holds a P/E ratio of 11.51, while its industry has an average P/E of 14.05. Over the past 52 weeks, JHG's Forward P/E has been as high as 12.53 and as low as 7.98, with a median of 11.18.

We should also highlight that JHG has a P/B ratio of 1.43. 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. JHG's current P/B looks attractive when compared to its industry's average P/B of 3.17. Over the past year, JHG's P/B has been as high as 1.57 and as low as 0.96, with a median of 1.37.

Value investors also use the P/S ratio. The P/S ratio is calculated as price divided by sales. This is a preferred metric because revenue can't really be manipulated, so sales are often a truer performance indicator. JHG has a P/S ratio of 2.54. This compares to its industry's average P/S of 3.51.

Finally, investors will want to recognize that JHG has a P/CF ratio of 15.35. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. JHG's current P/CF looks attractive when compared to its industry's average P/CF of 35.72. JHG's P/CF has been as high as 16.46 and as low as 10.65, with a median of 14.55, all within the past year.

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