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.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

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.

Heidrick & Struggles (HSII Quick QuoteHSII - Free Report) is a stock many investors are watching right now. HSII is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock has a Forward P/E ratio of 13.29. This compares to its industry's average Forward P/E of 14.29. Over the past 52 weeks, HSII's Forward P/E has been as high as 45.88 and as low as 7.81, with a median of 11.88.

HSII is also sporting a PEG ratio of 1.33. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. HSII's PEG compares to its industry's average PEG of 2.05. Over the past 52 weeks, HSII's PEG has been as high as 4.59 and as low as 0.78, with a median of 1.19.

Another notable valuation metric for HSII is its P/B ratio of 1.42. The P/B ratio pits a stock's market value against 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 1.74. Over the past 12 months, HSII's P/B has been as high as 2.12 and as low as 1.13, with a median of 1.54.

These are only a few of the key metrics included in Heidrick & Struggles'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, HSII looks like an impressive value stock at the moment.