Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

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.

Herbalife Ltd (HLF Quick QuoteHLF - Free Report) is a stock many investors are watching right now. HLF is currently sporting a Zacks Rank #2 (Buy) and an A for Value. The stock is trading with a P/E ratio of 4.21, which compares to its industry's average of 4.26. Over the last 12 months, HLF's Forward P/E has been as high as 5.54 and as low as 3.01, with a median of 4.25.

Finally, investors will want to recognize that HLF has a P/CF ratio of 2.12. 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. HLF's current P/CF looks attractive when compared to its industry's average P/CF of 3.72. Within the past 12 months, HLF's P/CF has been as high as 4.26 and as low as 1.39, with a median of 2.19.

These are only a few of the key metrics included in Herbalife Ltd'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, HLF looks like an impressive value stock at the moment.