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

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 Berkeley Group (BKGFY Quick QuoteBKGFY - Free Report) . BKGFY is currently holding a Zacks Rank #2 (Buy) and a Value grade of A. The stock holds a P/E ratio of 11.4, while its industry has an average P/E of 19.03. Over the past year, BKGFY's Forward P/E has been as high as 14.89 and as low as 10.11, with a median of 11.66.

Another valuation metric that we should highlight is BKGFY's P/B ratio of 1.06. 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 1.65. Over the past 12 months, BKGFY's P/B has been as high as 1.52 and as low as 0.95, with a median of 1.10.

Value investors will likely look at more than just these metrics, but the above data helps show that Berkeley Group is likely undervalued currently. And when considering the strength of its earnings outlook, BKGFY sticks out as one of the market's strongest value stocks.