While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.

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 use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

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 stock to keep an eye on is Pitney Bowes (PBI Quick QuotePBI - Free Report) . PBI is currently sporting a Zacks Rank #1 (Strong Buy), as well as a Value grade of A. The stock has a Forward P/E ratio of 8.78. This compares to its industry's average Forward P/E of 9.10. Over the past 52 weeks, PBI's Forward P/E has been as high as 18.96 and as low as 6.30, with a median of 8.11.

Investors should also note that PBI holds a PEG ratio of 0.59. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. PBI's PEG compares to its industry's average PEG of 0.66. Over the last 12 months, PBI's PEG has been as high as 1.26 and as low as 0.42, with a median of 0.54.

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