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

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 company value investors might notice is Aviat Networks (AVNW Quick QuoteAVNW - Free Report) . AVNW is currently holding a Zacks Rank #2 (Buy) and a Value grade of A. The stock is trading with a P/E ratio of 9.97, which compares to its industry's average of 28.81. Over the past 52 weeks, AVNW's Forward P/E has been as high as 19.57 and as low as 5.33, with a median of 8.47.

Finally, our model also underscores that AVNW has a P/CF ratio of 32.57. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. This stock's P/CF looks attractive against its industry's average P/CF of 42.39. Over the past year, AVNW's P/CF has been as high as 365.84 and as low as 17.53, with a median of 53.57.

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