While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.

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.

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 stock to keep an eye on is Artisan Partners Asset Management (APAM Quick QuoteAPAM - Free Report) . APAM is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value.

Investors should also note that APAM holds a PEG ratio of 1.57. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. APAM's industry has an average PEG of 1.71 right now. Over the last 12 months, APAM's PEG has been as high as 7.25 and as low as 0.68, with a median of 1.36.

Finally, our model also underscores that APAM has a P/CF ratio of 13.15. 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. APAM's P/CF compares to its industry's average P/CF of 36.66. APAM's P/CF has been as high as 13.46 and as low as 6.13, with a median of 10.36, all within the past year.

These figures are just a handful of the metrics value investors tend to look at, but they help show that Artisan Partners Asset Management is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, APAM feels like a great value stock at the moment.