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.

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.

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 to watch right now is Hollysys Automation (HOLI Quick QuoteHOLI - Free Report) . HOLI is currently holding a Zacks Rank of #1 (Strong Buy) and a Value grade of A. The stock has a Forward P/E ratio of 6.06. This compares to its industry's average Forward P/E of 16.16. Over the past 52 weeks, HOLI's Forward P/E has been as high as 10.34 and as low as 6.01, with a median of 8.64.

Finally, our model also underscores that HOLI has a P/CF ratio of 6.93. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. HOLI's current P/CF looks attractive when compared to its industry's average P/CF of 12.15. Over the past year, HOLI's P/CF has been as high as 11.42 and as low as 6.87, with a median of 9.28.

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