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.

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.

One company value investors might notice is Artisan Partners Asset Management (APAM Quick QuoteAPAM - Free Report) . APAM is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock holds a P/E ratio of 10.34, while its industry has an average P/E of 10.76. APAM's Forward P/E has been as high as 11.57 and as low as 7.22, with a median of 9.96, all within the past year.

Finally, investors should note that APAM has a P/CF ratio of 12.08. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. APAM's P/CF compares to its industry's average P/CF of 12.70. Over the past year, APAM's P/CF has been as high as 20.32 and as low as 7.18, with a median of 12.08.

These figures are just a handful of the metrics value investors tend to look at, but they help show that Artisan Partners Asset Management is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, APAM feels like a great value stock at the moment.