While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of 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.

Artisan Partners Asset Management (APAM Quick QuoteAPAM - Free Report) is a stock many investors are watching right now. APAM is currently sporting a Zacks Rank of #1 (Strong Buy) and an A for Value.

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 prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. APAM has a P/S ratio of 2.64. This compares to its industry's average P/S of 2.71.

Finally, our model also underscores that APAM has a P/CF ratio of 12.14. 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. This company's current P/CF looks solid when compared to its industry's average P/CF of 12.62. APAM's P/CF has been as high as 23.86 and as low as 7.18, with a median of 14.20, all within the past year.

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