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.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

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 Xtep International (XTEPY Quick QuoteXTEPY - Free Report) . XTEPY is currently sporting a Zacks Rank #2 (Buy), as well as a Value grade of A. The stock has a Forward P/E ratio of 10.05. This compares to its industry's average Forward P/E of 18.41. Over the past year, XTEPY's Forward P/E has been as high as 12.06 and as low as 7.69, with a median of 9.37.

Another valuation metric that we should highlight is XTEPY's P/B ratio of 1.78. 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 3.69. Within the past 52 weeks, XTEPY's P/B has been as high as 1.91 and as low as 1.12, with a median of 1.52.

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