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.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of 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 stock to keep an eye on is SSAB (SSAAY Quick QuoteSSAAY - Free Report) . SSAAY is currently holding a Zacks Rank #2 (Buy) and a Value grade of A. The stock has a Forward P/E ratio of 7.54. This compares to its industry's average Forward P/E of 11.57. Over the last 12 months, SSAAY's Forward P/E has been as high as 14.36 and as low as 6.79, with a median of 8.12.

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