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.

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.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

One company to watch right now is BNP Paribas (BNPQY Quick QuoteBNPQY - Free Report) . BNPQY is currently sporting a Zacks Rank #2 (Buy) and an A for Value. The stock is trading with P/E ratio of 7.58 right now. For comparison, its industry sports an average P/E of 10.75. Over the past 52 weeks, BNPQY's Forward P/E has been as high as 8.51 and as low as 5.32, with a median of 7.29.

Value investors also use the P/S ratio. The P/S ratio is calculated as price divided by 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. BNPQY has a P/S ratio of 1.83. This compares to its industry's average P/S of 2.09.

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