The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.

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 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 stock to keep an eye on is Artisan Partners Asset Management (APAM Quick QuoteAPAM - Free Report) . APAM is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock has a Forward P/E ratio of 9.89. This compares to its industry's average Forward P/E of 9.94. APAM's Forward P/E has been as high as 11.57 and as low as 7.22, with a median of 10.05, all within the past year.

Finally, our model also underscores that APAM has a P/CF ratio of 10.28. 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. This company's current P/CF looks solid when compared to its industry's average P/CF of 11.78. APAM's P/CF has been as high as 20.31 and as low as 7.18, with a median of 11.40, all within the past year.

These are just a handful of the figures considered in Artisan Partners Asset Management's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that APAM is an impressive value stock right now.