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 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 Kaiser Aluminum (KALU Quick QuoteKALU - Free Report) . KALU is currently sporting a Zacks Rank #2 (Buy), as well as an A grade for Value.

Investors should also recognize that KALU has a P/B ratio of 1.61. The P/B ratio is used to compare a stock's market value with 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 3.06. Over the past 12 months, KALU's P/B has been as high as 2.08 and as low as 1.07, with a median of 1.69.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. KALU has a P/S ratio of 0.64. This compares to its industry's average P/S of 1.19.

Finally, we should also recognize that KALU has a P/CF ratio of 7.29. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. KALU's P/CF compares to its industry's average P/CF of 10.31. KALU's P/CF has been as high as 8.75 and as low as 4.85, with a median of 7.04, all within the past year.

These are just a handful of the figures considered in Kaiser Aluminum's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that KALU is an impressive value stock right now.