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.

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 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.

One company to watch right now is Capital One (COF Quick QuoteCOF - Free Report) . COF is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A.

Investors should also recognize that COF has a P/B ratio of 0.82. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. COF's current P/B looks attractive when compared to its industry's average P/B of 0.85. Within the past 52 weeks, COF's P/B has been as high as 1.05 and as low as 0.80, with a median of 0.94.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. This is a prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. COF has a P/S ratio of 1.28. This compares to its industry's average P/S of 1.35.

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