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

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 to watch right now is Halfords Group Plc (HLFDY Quick QuoteHLFDY - Free Report) . HLFDY is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock holds a P/E ratio of 8.15, while its industry has an average P/E of 13.97. Over the past 52 weeks, HLFDY's Forward P/E has been as high as 78.15 and as low as 4.85, with a median of 7.91.

Another notable valuation metric for HLFDY is its P/B ratio of 0.96. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. This company's current P/B looks solid when compared to its industry's average P/B of 2.76. Over the past year, HLFDY's P/B has been as high as 1.31 and as low as 0.43, with a median of 0.91.

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