Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

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 rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

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.

One company value investors might notice is Capital One (COF Quick QuoteCOF - Free Report) . COF is currently sporting a Zacks Rank of #1 (Strong Buy), as well as a Value grade of A. The stock is trading with a P/E ratio of 10.06, which compares to its industry's average of 19.68. Over the last 12 months, COF's Forward P/E has been as high as 64.36 and as low as 3.69, with a median of 11.89.

We also note that COF holds a PEG ratio of 0.69. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. COF's industry has an average PEG of 2.06 right now. Over the last 12 months, COF's PEG has been as high as 7.15 and as low as 0.41, with a median of 1.47.

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