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, 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.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

One company value investors might notice is Rayonier Advanced Materials (RYAM Quick QuoteRYAM - Free Report) . RYAM is currently holding a Zacks Rank #2 (Buy) and a Value grade of A.

Another valuation metric that we should highlight is RYAM's P/B ratio of 1.39. 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. This company's current P/B looks solid when compared to its industry's average P/B of 1.83. Within the past 52 weeks, RYAM's P/B has been as high as 1.39 and as low as 0.35, with a median of 0.71.

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. RYAM has a P/S ratio of 0.33. This compares to its industry's average P/S of 0.65.

These are just a handful of the figures considered in Rayonier Advanced Materials's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that RYAM is an impressive value stock right now.