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.

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.

One company value investors might notice is Cracker Barrel Old Country Store (CBRL Quick QuoteCBRL - Free Report) . CBRL is currently sporting a Zacks Rank of #1 (Strong Buy), as well as an A grade for Value. The stock is trading with P/E ratio of 15.89 right now. For comparison, its industry sports an average P/E of 26.10. Over the past year, CBRL's Forward P/E has been as high as 19.82 and as low as 15.88, with a median of 17.35.

Finally, investors should note that CBRL has a P/CF ratio of 10.84. 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. This company's current P/CF looks solid when compared to its industry's average P/CF of 17.37. Over the past year, CBRL's P/CF has been as high as 13.38 and as low as 10.84, with a median of 11.88.

These are only a few of the key metrics included in Cracker Barrel Old Country Store'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, CBRL looks like an impressive value stock at the moment.