The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

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 Bunzl PLC (BZLFY Quick QuoteBZLFY - Free Report) . BZLFY is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock holds a P/E ratio of 17.77, while its industry has an average P/E of 28.23. Over the past 52 weeks, BZLFY's Forward P/E has been as high as 21.91 and as low as 12.43, with a median of 17.74.

Another valuation metric that we should highlight is BZLFY's P/B ratio of 4.85. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. This stock's P/B looks solid versus its industry's average P/B of 7.61. Over the past year, BZLFY's P/B has been as high as 4.97 and as low as 2.99, with a median of 4.49.

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