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, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

One company to watch right now is Intercorp Financial Services (IFS Quick QuoteIFS - Free Report) . IFS is currently sporting a Zacks Rank #2 (Buy), as well as an A grade for Value. The stock has a Forward P/E ratio of 7.68. This compares to its industry's average Forward P/E of 16.85. Over the last 12 months, IFS's Forward P/E has been as high as 10.57 and as low as 6.00, with a median of 7.42.

Another notable valuation metric for IFS is its P/B ratio of 1.46. 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 stock's P/B looks solid versus its industry's average P/B of 2.99. Within the past 52 weeks, IFS's P/B has been as high as 1.53 and as low as 1.04, with a median of 1.26.

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