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 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 company value investors might notice is Kimball Electronics (KE Quick QuoteKE - Free Report) . KE 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 25.54. This compares to its industry's average Forward P/E of 26.78. Over the last 12 months, KE's Forward P/E has been as high as 26.79 and as low as 10.37, with a median of 15.23.

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