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.

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 use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

One company to watch right now is North American Construction (NOA Quick QuoteNOA - Free Report) . NOA is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock is trading with P/E ratio of 6.94 right now. For comparison, its industry sports an average P/E of 14.39. NOA's Forward P/E has been as high as 13.20 and as low as 6.80, with a median of 7.82, all within the past year.

Finally, investors should note that NOA has a P/CF ratio of 3.43. 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. NOA's current P/CF looks attractive when compared to its industry's average P/CF of 8. Over the past year, NOA's P/CF has been as high as 6.30 and as low as 3.15, with a median of 4.75.

These are just a handful of the figures considered in North American Construction'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 NOA is an impressive value stock right now.