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.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of 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 CAI International . CAI is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock holds a P/E ratio of 6.49, while its industry has an average P/E of 12.03. CAI's Forward P/E has been as high as 18.76 and as low as 3.84, with a median of 7.10, all within the past year.

Finally, investors will want to recognize that CAI has a P/CF ratio of 3.81. 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. CAI's P/CF compares to its industry's average P/CF of 4.93. Within the past 12 months, CAI's P/CF has been as high as 4 and as low as 1.27, with a median of 3.10.

These are only a few of the key metrics included in CAI International'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, CAI looks like an impressive value stock at the moment.