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.

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 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 company value investors might notice is WPP (WPP Quick QuoteWPP - Free Report) . WPP is currently sporting a Zacks Rank #2 (Buy), as well as an A grade for Value. The stock holds a P/E ratio of 5.72, while its industry has an average P/E of 6.88. Over the last 12 months, WPP's Forward P/E has been as high as 10.01 and as low as 5.28, with a median of 7.58.

We should also highlight that WPP has a P/B ratio of 1.14. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This company's current P/B looks solid when compared to its industry's average P/B of 2.52. Over the past 12 months, WPP's P/B has been as high as 2.57 and as low as 1.14, with a median of 1.82.

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