The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find 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 a variety of methods, including tried-and-true valuation metrics, to find these stocks.

In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.

One company value investors might notice is Baytex Energy (BTE Quick QuoteBTE - Free Report) . BTE is currently sporting a Zacks Rank #1 (Strong Buy), as well as a Value grade of A.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. BTE has a P/S ratio of 0.87. This compares to its industry's average P/S of 1.43.

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