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.

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 Atlas Air Worldwide . AAWW is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock has a Forward P/E ratio of 6.74. This compares to its industry's average Forward P/E of 16.79. Over the last 12 months, AAWW's Forward P/E has been as high as 7.75 and as low as 2.83, with a median of 5.39.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. This is a prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. AAWW has a P/S ratio of 0.47. This compares to its industry's average P/S of 0.54.

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