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.

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 RLJ Lodging Trust (RLJ Quick QuoteRLJ - Free Report) . RLJ is currently holding a Zacks Rank #2 (Buy) and a Value grade of A. The stock holds a P/E ratio of 5.31, while its industry has an average P/E of 15.88. RLJ's Forward P/E has been as high as 6.82 and as low as 3.87, with a median of 5.41, all within the past year.

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 popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. RLJ has a P/S ratio of 1.41. This compares to its industry's average P/S of 3.46.

These are only a few of the key metrics included in RLJ Lodging Trust'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, RLJ looks like an impressive value stock at the moment.