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 rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

One company to watch right now is Pitney Bowes (PBI Quick QuotePBI - Free Report) . PBI is currently sporting a Zacks Rank #2 (Buy) and an A for Value. The stock is trading with P/E ratio of 8.78 right now. For comparison, its industry sports an average P/E of 10.39. Over the last 12 months, PBI's Forward P/E has been as high as 18.96 and as low as 6.30, with a median of 8.11.

PBI is also sporting a PEG ratio of 0.59. 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. PBI's industry currently sports an average PEG of 0.76. Over the past 52 weeks, PBI's PEG has been as high as 1.26 and as low as 0.42, with a median of 0.54.

These are only a few of the key metrics included in Pitney Bowes'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, PBI looks like an impressive value stock at the moment.