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.

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 fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

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.

Ternium (TX Quick QuoteTX - Free Report) is a stock many investors are watching right now. TX is currently sporting a Zacks Rank #2 (Buy), as well as an A grade for Value. The stock holds a P/E ratio of 8.04, while its industry has an average P/E of 13.99. Over the past year, TX's Forward P/E has been as high as 8.04 and as low as 4.75, with a median of 6.53.

Investors will also notice that TX has a PEG ratio of 0.30. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. TX's industry has an average PEG of 0.45 right now. TX's PEG has been as high as 0.45 and as low as 0.14, with a median of 0.31, all within the past year.

These are just a handful of the figures considered in Ternium's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that TX is an impressive value stock right now.