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.

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.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

Information Services Group (III Quick QuoteIII - Free Report) is a stock many investors are watching right now. III is currently holding a Zacks Rank #2 (Buy) and a Value grade of A. The stock is trading with P/E ratio of 15.07 right now. For comparison, its industry sports an average P/E of 15.16. Over the past year, III's Forward P/E has been as high as 17.33 and as low as 8.54, with a median of 12.45.

We also note that III holds a PEG ratio of 0.84. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. III's PEG compares to its industry's average PEG of 1.27. Over the past 52 weeks, III's PEG has been as high as 1.20 and as low as 0.59, with a median of 0.79.

Another notable valuation metric for III is its P/B ratio of 2.76. The P/B ratio pits a stock's market value against 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 5.00. Over the past year, III's P/B has been as high as 2.84 and as low as 1.52, with a median of 1.86.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. III has a P/S ratio of 0.99. This compares to its industry's average P/S of 1.36.

These are only a few of the key metrics included in Information Services Group'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, III looks like an impressive value stock at the moment.