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

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.

One stock to keep an eye on is HF Sinclair (DINO Quick QuoteDINO - Free Report) . DINO is currently holding a Zacks Rank #1 (Strong Buy) and a Value grade of A.

Another notable valuation metric for DINO is its P/B ratio of 1.05. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 2.64. Over the past year, DINO's P/B has been as high as 1.06 and as low as 0.53, with a median of 0.76.

Value investors also use the P/S ratio. The P/S ratio is calculated as price divided by sales. This is a preferred metric because revenue can't really be manipulated, so sales are often a truer performance indicator. DINO has a P/S ratio of 0.53. This compares to its industry's average P/S of 0.64.

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