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 rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

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 China Cosco (CICOY Quick QuoteCICOY - Free Report) . CICOY is currently sporting a Zacks Rank #2 (Buy), as well as an A grade for Value. The stock is trading with a P/E ratio of 8.7, which compares to its industry's average of 13.61. CICOY's Forward P/E has been as high as 15.22 and as low as 4.18, with a median of 8.15, all within the past year.

Another valuation metric that we should highlight is CICOY's P/B ratio of 0.71. 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. CICOY's current P/B looks attractive when compared to its industry's average P/B of 2.11. CICOY's P/B has been as high as 0.79 and as low as 0.52, with a median of 0.66, over the past year.

These are just a handful of the figures considered in China Cosco'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 CICOY is an impressive value stock right now.