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, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

One company to watch right now is ONESPAN (OSPN Quick QuoteOSPN - Free Report) . OSPN is currently sporting a Zacks Rank #2 (Buy) and an A for Value. The stock holds a P/E ratio of 10.62, while its industry has an average P/E of 26.88. Over the last 12 months, OSPN's Forward P/E has been as high as 14.05 and as low as 8.73, with a median of 11.50.

Another notable valuation metric for OSPN is its P/B ratio of 2.48. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. OSPN's current P/B looks attractive when compared to its industry's average P/B of 4.27. Within the past 52 weeks, OSPN's P/B has been as high as 3.78 and as low as 2.01, with a median of 2.84.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a preferred metric because revenue can't really be manipulated, so sales are often a truer performance indicator. OSPN has a P/S ratio of 1.98. This compares to its industry's average P/S of 2.8.

Finally, our model also underscores that OSPN has a P/CF ratio of 8.92. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 14.87. Within the past 12 months, OSPN's P/CF has been as high as 26.28 and as low as 7.22, with a median of 9.86.

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