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, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. 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 stock to keep an eye on is AllianceBernstein (AB Quick QuoteAB - Free Report) . AB is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock is trading with a P/E ratio of 10.54, which compares to its industry's average of 10.91. Over the past year, AB's Forward P/E has been as high as 12.79 and as low as 9.48, with a median of 11.50.

Finally, investors will want to recognize that AB has a P/CF ratio of 12.07. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. This stock's P/CF looks attractive against its industry's average P/CF of 13.49. AB's P/CF has been as high as 13.26 and as low as 8.84, with a median of 11.84, all within the past year.

These are only a few of the key metrics included in AllianceBernstein's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, AB looks like an impressive value stock at the moment.