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.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

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.

Methanex (MEOH Quick QuoteMEOH - Free Report) is a stock many investors are watching right now. MEOH is currently sporting a Zacks Rank #2 (Buy), as well as a Value grade of A. The stock is trading with a P/E ratio of 9.99, which compares to its industry's average of 13.56. Over the past 52 weeks, MEOH's Forward P/E has been as high as 15.64 and as low as 5.89, with a median of 10.72.

We should also highlight that MEOH has a P/B ratio of 1.03. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. This company's current P/B looks solid when compared to its industry's average P/B of 2.12. Over the past 12 months, MEOH's P/B has been as high as 1.52 and as low as 0.69, with a median of 1.05.

These are only a few of the key metrics included in Methanex's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, MEOH looks like an impressive value stock at the moment.