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.

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.

In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.

One company value investors might notice is Aluminum (ACH Quick QuoteACH - Free Report) . ACH is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock is trading with P/E ratio of 39.45 right now. For comparison, its industry sports an average P/E of 43.85. Over the past 52 weeks, ACH's Forward P/E has been as high as 60.81 and as low as 20.40, with a median of 35.08.

Another notable valuation metric for ACH is its P/B ratio of 0.59. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. ACH's current P/B looks attractive when compared to its industry's average P/B of 1.51. Over the past 12 months, ACH's P/B has been as high as 0.64 and as low as 0.31, with a median of 0.41.

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