Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

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.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality 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 holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock has a Forward P/E ratio of 9.58. This compares to its industry's average Forward P/E of 10.68. Over the past year, APAM's Forward P/E has been as high as 11.57 and as low as 7.22, with a median of 9.92.

Finally, our model also underscores that APAM has a P/CF ratio of 10. 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 stock's P/CF looks attractive against its industry's average P/CF of 12.32. APAM's P/CF has been as high as 19.82 and as low as 7.18, with a median of 11.14, 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.