Investors with an interest in Furniture stocks have likely encountered both Bassett Furniture (BSET Quick QuoteBSET - Free Report) and WillScot (WSC Quick QuoteWSC - Free Report) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.

The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.

Currently, Bassett Furniture has a Zacks Rank of #1 (Strong Buy), while WillScot has a Zacks Rank of #3 (Hold). This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that BSET is likely seeing its earnings outlook improve to a greater extent. But this is just one factor that value investors are interested in.

Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.

The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.

BSET currently has a forward P/E ratio of 13.43, while WSC has a forward P/E of 50.30. We also note that BSET has a PEG ratio of 0.84. 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. WSC currently has a PEG ratio of 1.80.

Another notable valuation metric for BSET is its P/B ratio of 1.04. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, WSC has a P/B of 2.34.

Based on these metrics and many more, BSET holds a Value grade of A, while WSC has a Value grade of D.

BSET is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. And, based on the above valuation metrics, we feel that BSET is likely the superior value option right now.