The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.

Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. 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 Central Garden & Pet (CENT Quick QuoteCENT - Free Report) . CENT is currently sporting a Zacks Rank #2 (Buy) and an A for Value. The stock is trading with P/E ratio of 12.91 right now. For comparison, its industry sports an average P/E of 14.87. CENT's Forward P/E has been as high as 19.24 and as low as 12.63, with a median of 14.87, all within the past year.

Another notable valuation metric for CENT is its P/B ratio of 1.38. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This stock's P/B looks solid versus its industry's average P/B of 2.64. Over the past year, CENT's P/B has been as high as 1.86 and as low as 1.33, with a median of 1.54.

These are only a few of the key metrics included in Central Garden & Pet'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, CENT looks like an impressive value stock at the moment.