Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

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.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

One company to watch right now is Ping An Insurance Co. of China (PNGAY Quick QuotePNGAY - Free Report) . PNGAY is currently sporting a Zacks Rank #2 (Buy), as well as a Value grade of A. The stock is trading with P/E ratio of 6.33 right now. For comparison, its industry sports an average P/E of 8.77. Over the last 12 months, PNGAY's Forward P/E has been as high as 7.81 and as low as 4.52, with a median of 5.81.

Value investors also use the P/S ratio. The P/S ratio is calculated as price divided by sales. This is a preferred metric because revenue can't really be manipulated, so sales are often a truer performance indicator. PNGAY has a P/S ratio of 0.9. 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 Ping An Insurance Co. of China is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, PNGAY feels like a great value stock at the moment.