Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

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.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

One company value investors might notice is BNP Paribas (BNPQY Quick QuoteBNPQY - Free Report) . BNPQY is currently holding a Zacks Rank #2 (Buy) and a Value grade of A. The stock holds a P/E ratio of 7.58, while its industry has an average P/E of 10.73. Over the past 52 weeks, BNPQY's Forward P/E has been as high as 8.51 and as low as 5.32, with a median of 7.29.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. This is a preferred metric because revenue can't really be manipulated, so sales are often a truer performance indicator. BNPQY has a P/S ratio of 1.93. This compares to its industry's average P/S of 2.02.

These are only a few of the key metrics included in BNP Paribas'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, BNPQY looks like an impressive value stock at the moment.