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, 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 use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

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 stock to keep an eye on is Alliance Resource Partners (ARLP Quick QuoteARLP - Free Report) . ARLP is currently sporting a Zacks Rank #2 (Buy) and an A for Value. The stock holds a P/E ratio of 9.28, while its industry has an average P/E of 10.22. Over the last 12 months, ARLP's Forward P/E has been as high as 11.04 and as low as 6.67, with a median of 9.31.

Finally, investors will want to recognize that ARLP has a P/CF ratio of 5.83. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 9.53. Within the past 12 months, ARLP's P/CF has been as high as 6.90 and as low as 3.82, with a median of 5.55.

These are only a few of the key metrics included in Alliance Resource Partners's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, ARLP looks like an impressive value stock at the moment.