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 rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

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.

Lazard Ltd (LAZ Quick QuoteLAZ - Free Report) is a stock many investors are watching right now. LAZ is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock holds a P/E ratio of 6.33, while its industry has an average P/E of 13.10. LAZ's Forward P/E has been as high as 12.62 and as low as 5.48, with a median of 9.66, all within the past year.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. This is a prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. LAZ has a P/S ratio of 0.93. This compares to its industry's average P/S of 1.56.

These are only a few of the key metrics included in Lazard Ltd'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, LAZ looks like an impressive value stock at the moment.