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.

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 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 Beacon Roofing Supply (BECN Quick QuoteBECN - Free Report) . BECN is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock holds a P/E ratio of 10.70, while its industry has an average P/E of 18.84. Over the past year, BECN's Forward P/E has been as high as 17.76 and as low as 9.85, with a median of 12.89.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. BECN has a P/S ratio of 0.58. This compares to its industry's average P/S of 0.86.

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