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.

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 rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

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 HCA Holdings (HCA Quick QuoteHCA - Free Report) . HCA is currently holding a Zacks Rank of #1 (Strong Buy) and a Value grade of A. The stock is trading with a P/E ratio of 13.20, which compares to its industry's average of 13.47. Over the past 52 weeks, HCA's Forward P/E has been as high as 14.55 and as low as 10.86, with a median of 13.12.

Investors will also notice that HCA has a PEG ratio of 1.17. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. HCA's PEG compares to its industry's average PEG of 1.22. HCA's PEG has been as high as 1.19 and as low as 0.91, with a median of 1.09, all within the past year.

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