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.

Universal Logistics (ULH Quick QuoteULH - Free Report) is a stock many investors are watching right now. ULH is currently sporting a Zacks Rank #1 (Strong Buy), as well as a Value grade of A. The stock holds a P/E ratio of 12.28, while its industry has an average P/E of 18.88. Over the last 12 months, ULH's Forward P/E has been as high as 14.16 and as low as 6.01, with a median of 9.87.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a preferred metric because revenue can't really be manipulated, so sales are often a truer performance indicator. ULH has a P/S ratio of 0.29. This compares to its industry's average P/S of 0.82.

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