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.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

One company value investors might notice is North American Construction (NOA Quick QuoteNOA - Free Report) . NOA is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock holds a P/E ratio of 10.36, while its industry has an average P/E of 11.86. NOA's Forward P/E has been as high as 22.74 and as low as 7.19, with a median of 14.54, all within the past year.

Finally, our model also underscores that NOA has a P/CF ratio of 5.20. 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. NOA's current P/CF looks attractive when compared to its industry's average P/CF of 7.90. Over the past 52 weeks, NOA's P/CF has been as high as 7.04 and as low as 2.94, with a median of 4.39.

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