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 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 to watch right now is Methanex (MEOH Quick QuoteMEOH - Free Report) . MEOH is currently sporting a Zacks Rank #1 (Strong Buy), as well as a Value grade of A. The stock is trading with a P/E ratio of 9.99, which compares to its industry's average of 18.20. Over the past year, MEOH's Forward P/E has been as high as 15.64 and as low as 5.89, with a median of 10.72.

Another notable valuation metric for MEOH is its P/B ratio of 1.03. 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. MEOH's current P/B looks attractive when compared to its industry's average P/B of 2.19. Within the past 52 weeks, MEOH's P/B has been as high as 1.52 and as low as 0.69, with a median of 1.05.

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