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, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

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 ARKO (ARKO Quick QuoteARKO - Free Report) . ARKO is currently sporting a Zacks Rank #2 (Buy), as well as a Value grade of A.

Investors should also recognize that ARKO has a P/B ratio of 2.09. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 4.95. Within the past 52 weeks, ARKO's P/B has been as high as 3.27 and as low as 1.60, with a median of 2.18.

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