Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore 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 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.

Carter's (CRI Quick QuoteCRI - Free Report) is a stock many investors are watching right now. CRI is currently sporting a Zacks Rank #2 (Buy) and an A for Value. The stock is trading with a P/E ratio of 11.92, which compares to its industry's average of 21.59. Over the last 12 months, CRI's Forward P/E has been as high as 14.58 and as low as 7.27, with a median of 10.72.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. CRI has a P/S ratio of 0.48. This compares to its industry's average P/S of 0.97.

These figures are just a handful of the metrics value investors tend to look at, but they help show that Carter's is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, CRI feels like a great value stock at the moment.