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.

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 tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

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.

One company to watch right now is Information Services Group (III Quick QuoteIII - Free Report) . III is currently sporting a Zacks Rank #2 (Buy), as well as a Value grade of A.

Investors will also notice that III has 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 industry has an average PEG of 1.32 right now. Within the past year, III's PEG has been as high as 1.20 and as low as 0.59, with a median of 0.79.

Another valuation metric that we should highlight is III's P/B ratio of 2.76. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 4.78. Within the past 52 weeks, 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 preferred metric because revenue can't really be manipulated, so sales are often a truer performance indicator. III has a P/S ratio of 1.04. This compares to its industry's average P/S of 1.09.

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